Lafarge india cci. Jul 11, 2016 · LafargeHolcim announces it has entered into a letter agreement with Nirma Limited subject to approval by the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India for an enterprise value of approximately USD 1. The Competition Commission of India (CCI) and the two cement giants have agreed on a package of asset divestments that includes a cement plant and a grinding station from Lafarge, with a total of approximately 5 million The Competition Commission of India (CCI) has given its green signal for the Holcim-Lafarge merger deal that would create the world's largest cement group, while directing Lafarge to sell its two Apr 14, 2016 · The CCI’s order was challenged by Dalmia Cement (Bharat) Ltd, which the tribunal said had been “aggrieved” by the order, without elaborating India: Lafarge India has submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11Mt/yr assets in India. 4 billion (around Rs 9,400 crore). The list of Lafarge India assets: Apr 2, 2015 · Fair trade watchdog CCI has given its green signal for the Holcim-Lafarge merger deal that would create the world’s largest cement group, while directing Lafarge to sell its two plants in India to address anti-competition concerns. 3 billion). The order came on an appeal by Dalmia Cement (Bharat) Ltd against a Feb 4, 2016 · LafargeHolcim says it is considering a revised divestment of its interest in Lafarge India, which has an annual cement capacity of around 11 million tonnes. The company also Apr 2, 2015 · NEW DELHI: The Competition Commission of India (CCI) has cleared the proposed merger of French cement maker Lafarge and Swiss peer Holcim, which will create the world's largest cement company by manufacturing capacity and sales. The aforesaid merger raised the CCI’s eyebrows in eastern India region where Holcim, through ACC and Ambuja Cement, has cement cap. Feb 8, 2016 · LafargeHolcim today announced that it has received a revised order of the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India, including three cement plants and two grinding stations with a total capacity of around 11 million tons per annum. The proposed May 10, 2016 · Dalmia’s challenge to the Competition Commission of India (CCI) order allowing Lafarge to sell its entire India assets meant the firm would only have been able to sell two plants in eastern Mar 31, 2015 · The The Competition Commission of India (CCI) has cleared the proposed merger of French cement maker Lafarge and Holcim, which will create the world?s largest cement company by manufacturing capacity and sales. Apr 2, 2015 · Lafarge India Pvt. This transaction, which is subject to the approval of local regulatory authorities, will accelerate Lafarge’s growth plans in India in all its product lines: cement Jun 1, 2016 · The CCI’s concern stemmed from the fact that Lafarge and Holcim together enjoyed a dominant position in several markets in India with total capacity of 68 million tonnes per annum. Jul 12, 2016 · The deal is subject to approval by the Competition Commission of India (CCI), which outlined its order to LafargeHolcim for the divestment of its interests in Lafarge India in February. 15 million tonne to comply with the competition rules and allow a merger between two cement makers Swiss cement manufacturer Holcim and French cement maker Lafarge SA. Feb 9, 2016 · The proposed divestment is key to get the approval of the CCI for the multi-billion dollar merger between Lafarge and Holcim announced last year. The Commission approved the proposed combination with modifications by an order dated 30 March 2015 (“Order”). Feb 8, 2016 · LafargeHolcim has received a revised order from the Competition Commission of India (CCI) to divest its interest in Lafarge India, including three cement plants and two grinding stations with Jul 19, 2024 · A brief overview of key procedures and practical considerations surrounding merger notification and clearance in India, including timetables, documentation and sanctions for noncompliance. Jun 27, 2013 · CCI has given its go-ahead to the proposed 14 per cent stake sale in french cement major Lafarge' Indian subsidiary to Baring Private Equity Asia. In February, Nuvoco Vistas -- formerly Lafarge India Limited -- announced that it would acquire the 8. It was part of the company's 3. Jul 11, 2016 · LafargeHolcim had been trying to sell Lafarge India for the past year after the CCI, in April 2015, asked the company to divest some assets to complete the global merger. Jan 6, 2016 · Lafarge India Pvt. In April 2014, both companies had announced a global merger, which could lead to a combined capacity of 427 million tonnes (mt), ahead of the China’s Anhui Conch (currently 227 mt). This came after the Competition Commission of India (CCI) approved the sale of Lafarge India. This is the second public scrutiny of a M&A deal by the Competition Commission of India (CCI) after Ranbaxy-Sun Pharma merger. In August 2015, Birla Corp had agreed to buy the proposed assets, along with brands Concreto and PSC and mineral rights over adequate reserves of limestone. 4 billion, the world’s largest cement producer said in a statement on Monday Jan 5, 2016 · Lafarge India has submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11-million tonne (mt) asset in India. Apr 2, 2015 · The Competition Commission of India (CCI) has cleared the proposed merger of Lafarge and Holcim, which will create the large cement company by manufacturing capacity and sales. LafargeHolcim receives revised CCI divestment order LafargeHolcim today announced that it has received a revised order of the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India, including three cement plants and two grinding stations with a total capacity of around 11 million tons per annum. CCI chairman Ashok Chawla had indicated that the regulator would take more time before deciding on the transaction. Mar 10, 2019 · Holcim and Lafarge merged on 7th April 2014, to form a cement giant which dominated the cement industry worldwide with its presence in 90 countries owning 168 plants and having 386 million tons Jun 22, 2012 · The CCI has imposed an unprecedented penalty of Rs 6,307 crore on 11 cement makers, including the Indian arms of global leaders. 15-mt cement capacity in Chhattisgarh and Jharkhand to Birla Corporation for Rs 5,000 Apr 14, 2016 · The Competition Commission of India (CCI) had approved the merger for a second time in February after Lafarge told the regulator that it would sell its entire assets worth about Rs 10,000 crore. Jan 6, 2016 · France-based Lafarge has submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11-million ton (MT) asset in India after its earlier plan to sell its 5. Emami Cement, part May 3, 2016 · In August 2015, LafargeHolcim agreed to sell these assets to Birla Corp. Competition Commission of India (CCI) imposed a stay on the merger until and unless Lafarge Holcim would divest some of their plants in the country. India is an important market for the future LafargeHolcim Nov 23, 2014 · The Competition Commission of India has voiced skepticism that the mega-merger between cement firms Lafarge and Holcim will not harm competition. 4 billion or R9,400 crore to get clearance Jan 20, 2015 · The CCI is examining the merger as it raises competition concerns. Mar 25, 2022 · In summary This chapter explains the salient features of the merger control regime under Indian competition law. Apr 30, 2016 · Competition Commission of India has appointed Mazars as investment advisor to monitor the divestment of Lafarge India Pvt. This decision comes after the company?s plan to sell its 5. CCI has decided that a divestiture of Lafarge's Jojobera plant in Jharkhand and the Jul 11, 2016 · LafargeHolcim enter into agreement with Nirma Ltd for divestment of Lafarge India for US$1. The Competition Commission of India (CCI) had approved the merger for a second time in February after Lafarge told the regulator that it would sell its entire assets worth about Rs. The proposed transaction is an Feb 12, 2016 · The decision to exit India comes after the global merger in 2015 to form LafargeHolcim, an entity with a presence in 90 countries and a turnover of $33. 03 per cent stake in Lafarge India by Paris Cement Investment Holdings -- a wholly owned subsidiary of Baring. 1 million tonnes (Order). Feb 11, 2015 · Executive Summary: While most merger transactions have been passed by the Competition Commission of India (“CCI”) without conducting a detailed investigation, the CCI has escalated recent combinations to such greater review. The company also markets aggregates and is one of India’s Apr 6, 2014 · CCI may have to sign off on merger plans by France's Lafarge and Switzerland's Holcim as any deal would have a significant impact on the local cement industry. Competition Commission of India&Anr. Lafarge has submitted a revised proposal to the Competition Commission of India to sell its entire 11-million tonne asset in Feb 10, 2016 · LafargeHolcim has received a revised order from the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India. 4bn in July 2016. 8 MT of cement capacity in the states of Chhattisgarh, Jharkhand and West Bengal out of its total capaci. Get all the Lafarge India breaking news updates, videos, photostories and more at Business Standard. 10,000 crore. 4 billion (Rs. Jul 12, 2016 · LafargeHolcim announced that it has entered into a letter agreement with Nirma Limited subject to approval by the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India for an enterprise value of approximately $ 1. In August 2015, the company signed an agreement with Birla Corporation to sell the asset for Rs 5,000 crore. 2015. Lafarge India, which is a joint venture between Financiere Lafarge and Paris Cement Investment, will be wholly owned by Financiere Lafarge after the transaction is completed. The proposed deal comprises the subscription of 14. Jul 11, 2016 · Hence, the Competition Commission of India (CCI) asked Lafarge India to sell its 5. Jul 11, 2016 · LafargeHolcim has entered into a letter agreement with Nirma subject to approval by the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India for an enterprise value of approximately US$1. The two plants have an annual cement capacity of 5. Feb 8, 2016 · ZURICH (Reuters) - LafargeHolcim has received a revised order from the Competition Commission of India (CCI) to divest its interest in Lafarge India, including three cement plants and two grinding stations with total annual capacity of 11 million tons, it said. According to reports, the CCI has asked France’s Lafarge and Switzerland’s Holcim for more information regarding the transaction, which would result in the world’s largest cement conglomerate. While affirming the penalty the NCLAT noted that the penalty was “mere minimum” - @0. Apr 18, 2016 · The 5% market share consideration was retained by CCI in the second divestment, which ruled out some potential bidders, including private equity firm KKR who have had investments in firms competing with Lafarge India. Apr 14, 2016 · The tribual stayed a February order by antitrust watchdog Competition Commission of India (CCI) allowing the sale of Lafarge India until the next hearing on May 9, according to an order posted on Nov 21, 2014 · On 14th July, 2014 (14. The divestment would require the approval of the Competition Commission of India (CCI) as an alternate remedy for the merger of the Group’s legacy companies. 15-mt cement capacity in Chhattisgarh and Jharkhand to Birla Corporation for Rs 5,000 crore ran into trouble. The sale will require the approval of the Competition Commission of India (CCI) as an alternate remedy for the merger of the Group's legacy companies. Arpwood Capital and Citi were appointed investment bankers for the sale of the local Lafarge business Sep 13, 2017 · Lafarge India has said that the transfer of management and accounts for the Jojobera plant was completed on 6 -7 October 2016 following approval by the Competition Commission of India for the sale. According to reports, the CCI has asked France’s Apr 1, 2015 · The Competition Commission of India has approved the merger of cement giants Lafarge and Holcim on the basis that Lafarge will divest one cement plant and one grinding station in Eastern India Apr 20, 2016 · Lafarge India’s cement business is estimated to be valued at Rs 10,000 crore. (“Holcim”) and Lafarge S. Lafarge India operates three cement plants and two grinding stations with a total capacity of around 11 million tonnes/year. Apr 14, 2016 · Wednesday’s order, which was on an appeal by Dalmia Cement, basically struck down Lafarge’s revised proposal, approved by the CCI, to sell its entire India assets instead of the initial one to Oct 14, 2021 · Competition regulator CCI has given its go-ahead to the proposed 14 per cent stake sale in French cement major Lafarge’s Indian subsidiary to Baring Private Equity Asia, stating that the deal will not adversely affect competition in the country. 3 billion divestment plan to Irish CRH, the global merger of Swiss cement maker Holcim and its French counterpart Lafarge is far from over as far as India is Dec 24, 2014 · The proposed merger of Holcim and Lafarge in India is well on track, though the future structure will be decided upon getting approval of the competition watchdog CCI, Swiss cement major Holcim said today. Following this transaction, subject to the approval of the regulatory authorities, Lafarge will hold 100 of the shares of Lafarge India. Feb 2, 2016 · The legacy merger between Lafarge and Holcim received conditional clearance from CCI but required the new entity Lafare-Holcim to disinvest part of its assets to fulfil the norms. In a revised order on 2 February, the CCI had approved the new divestment plan of LafargeHolcim which included the sale of three cement plants and two grinding stations of Lafarge India with a total capacity of around 11 million tonnes per annum. Meanwhile, fair trade watchdog CCI has put the merger deal between Holcim and Lafarge under public scrutiny after prima facie finding it could hurt the competition in Indian cement market. 34 billion/US$1. 03 percent of the equity share capital in LIPL by PCIHL. The CCI approval, however, came with a rider — both the firms will Mar 20, 2018 · Swiss multinational cement giant LafargeHolcim has received a go-ahead from CCI for a new divestment plan for its India business, including three cement plants and two grinding stations. , Appeal no. Jan 12, 2016 · The Competition Commission of India (CCI) asked Lafarge India to sell its 5. The proposed divestment is key to get the approval of the Competition Commission of India (CCI) for the multi-billion dollar merger between Lafarge and Holcim announced Nov 23, 2014 · The Competition Commission of India has voiced skepticism that the mega-merger between cement firms Lafarge and Holcim will not harm competition. Competition Commission of India & Builders Association of India”, the Competition Appellate Tribunal (COMPAT Apr 14, 2016 · The tribual stayed a February order by antitrust watchdog Competition Commission of India (CCI) allowing the sale of Lafarge India until the next hearing on May 9, according to an order posted on By way of a background, earlier on March 30, 2015, the CCI had cleared the proposed combination between and Holcim and Lafarge with certain modifications, which required divestment of Lafarge’s Jojobera plant in Jharkhand and integrated unit at Sonadih in Chhattisgarh, with a capacity of approximately 5. Feb 8, 2016 · LafargeHolcim receives revised CCI divestment order LafargeHolcim today announced that it has received a revised order of the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India, including three cement plants and two grinding stations with a total capacity of around 11 million tons per annum. “The group remains in dialogue with CCI and will communicate any further updates to the divestment process in India in due time,” Lafarge-Holcim said. 2014, the Competition Commission of India (“Commission”) received a notice (“Notice”) under Section 6(2) of the Competition Act, 2002 (“Act”) given by Holcim Ltd. The comments with respect to Competition Commission of India (CCI) imposed a markets, which include , France, and India, to remain stay on the merger until and unless Lafarge Holcim would “challenging” (Revill, 2015). Jun 1, 2025 · Stay updated with the latest cement industry news, articles, case studies and technical insights about Lafarge India. has received a revised order of the Competition Commission of India for the divestment of its interest in Lafarge India Pvt. In India both companies are well on track in preparing the merger of Holcim and Lafarge, with future structure for this subcontinent to be announced in Mar 21, 2018 · The CCI approval of April 2015 directed divestment of Jojobera and Sonadih plants in eastern India, following which Lafarge entered into a pact with Birla Corp in August. The company also markets aggregates and is one of India’s Jul 13, 2016 · Last year, Lafarge India was directed by CCI to divest its cement assets over antitrust concerns following Lafarge SA’s global merger with Swiss cement giant Holcim Ltd in April 2014. The author feels both cases showed sufficient adverse effects but CCI reached May 2, 2025 · Lafarge India - Read all the latest news headline updates on Lafarge India. Parties Name Date of Order 1. has agreed to acquire Lafarge India’s cement assets for about $1. With this approval, the worlds two cement giants will have to sell capacities worth 5 million tonnes in Indias eastern part. India: Lafarge India has submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11Mt/yr assets in India. This agency will review the potential buyers and review Oct 19, 2021 · Lafarge India has submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11-million tonne (mt) asset in India. It outlines the changing role of CCI in considering various factors when investigating mergers to determine if there is an appreciable adverse effect on competition. Photo Jan 13, 2016 · Lafarge India upped its sales proposal to the Competition Commission of India (CCI) on 6 January 2016 to sell its entire 11Mt/yr portfolio. intends to sell all of its Indian assets. 15 mt capacity in eastern India by December 31 to complete its global merger. Factual and Procedural Background On 14 July 2014, the Competition Commission of India (“Commission”) received a notice under sub-section (2) of Section 6 of the Competition Act, 2002 from Holcim Ltd. In a joint filing to Indian competition watchdog the Competition Commission of India (CCI), the cement majors said that after the proposed transaction, expected to be closed by mid of 2015, the effective competition in the cement as well as the ready LafargeHolcim receives revised CCI divestment order LafargeHolcim today announced that it has received a revised order of the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India, including three cement plants and two grinding stations with a total capacity of around 11 million tons per annum. Mazars will ensure that the proposed asset sale of Lafarge India — for overcoming regulatory hurdles over its multi-billiondollar merger with Swiss rival Holcim last year — does Mar 29, 2016 · In April 2015, CCI had approved the merger in India subject to the condition that Lafarge divest two cement plans in order to eliminate competition concerns. Mar 30, 2015 · In a recent decision (technically known as an ‘Order’), delivered on 30 March 2015, the Competition Commission of India (CCI) approved an agreement whereby the multinational cement manufacturer Holcim would acquire all the outstanding shares of another large cement multinational, Lafarge. May 21, 2020 · Competition Commission of India (CCI) on Thursday said it has approved the proposed acquisition of Emami Cement by Nuvoco Vistas Corporation, which is a Nirma promoter group company. "The proposed transaction is an alternate remedy Introduction Following one year of rigorous investigation and review process, the Competition Commission of India (CCI) approved the Holcim-Lafarge merger on 30 March, 2015 [1]. Jan 6, 2016 · Submits revised proposal to CCI as Birla Corp deal fails France-based Lafarge and Swiss cement giant Holcim announced a global merger in April 2014 to create the world’s largest cement company Feb 9, 2016 · In April 2015, CCI had directed LafargeHolcim to divest from its east India cement assets of 5. Aug 18, 2015 · The Lafarge assets have “a demonstrated track record of operational and commercial excellence with profitability amongst the highest in the industry aided by raw material linkages, strong distribution networks and excellent brand loyalty in the attractive eastern India cement market”, Birla Corp said. Lafarge India operates three cement plants and two grinding stations with a total capacity of about 11 million tons per year. The company also markets aggregates and is one of India’s leading ready-mix concrete manufacturers. 6 billion) divestment programme and was essential for completing the global merger announced last year between Lafarge and Holcim. 2Mt/yr of cement production capacity in Chhattisgarh and Jharkhand in eastern India. Lafarge India operate three cement plants and two CCI approves proposed stake sale in Lafarge India CCI has given its go-ahead to the proposed 14 per cent stake sale in french cement major Lafarge' Indian subsidiary to Baring Private Equity Asia. They may contain viruses. Investment bankers said the M P Birla Group company was facing challenges Jun 15, 2015 · French cement maker Lafarge will pay Baring Private Equity 270 million euros ($304 million) to acquire the fund's 14% stake in Lafarge India, the company said on Monday. 03 per cent stake in Lafarge India by Paris […] Feb 23, 2015 · Exercising its rarely-used powers for the second time in less than three months, fair trade watchdog CCI has put another mega merger deal — between Holcim and Lafarge — under public scrutiny Jan 20, 2015 · The Competition Commission of India (CCI) will soon decide on the proposed merger between Lafarge and Holcim, the Economic Times (India) cited CCI chairman, Ashok Chawla, as saying. Apr 13, 2016 · In a revised order on 2 February, the CCI had approved the new divestment plan of LafargeHolcim which included the sale of three cement plants and two grinding stations of Lafarge India with a Feb 2, 2015 · The Competition Commission of India (CCI) is scrutinising whether the deal might lead to monopoly for the merged entity, especially in eastern India. Dec 4, 2024 · This chapter considers merger control laws in India, including authorities and legislation, notification, substantive assessment, remedies and more. Competition Commission Of India on CaseMine. Aug 17, 2015 · Birla Corp to buy two Lafarge India cement units The transaction would be funded through existing cash reserves and incremental debt, and is subject to CCI approval Get free access to the complete judgment in Lafarge India Limited v. Feb 9, 2016 · In a statement, LafargeHolcim said it has received a revised order from CCI for the divestment of its interest in Lafarge India, including three cement plants and two grinding stations with a total capacity of around 11 million tonnes per annum. Nov 22, 2014 · The deal between Holcim and Lafarge, both of which have good presence in India, was announced in April this year. Jun 22, 2012 · The companies penalised by the Competition Commission of India (CCI) include ACC and Ambuja Cements (both units of Swiss cement-maker Holcim), UltraTech Cement, Jaiprakash Associates, India Cements, Madras Cements and the local unit of France's Lafarge. 105 of 2012 and connected appeals. This deal was subject to approval by the Competition Commission of India (CCI). On 23. 4 billion. Feb 9, 2016 · LafargeHolcim on Monday said it has received a revised order of CCI for the divestment of its interest in Lafarge India Pvt. Jan 6, 2016 · India: Lafarge India has submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11Mt/yr assets in India. Financiere Lafarge operates as a subsidiary of French cement manufacturer Lafarge. 9,400 crore), outbidding Sajjan Jindal-led JSW Cement and Piramal Enterprises, as Indian companies vie Swiss cement giant LafargeHolcim today announced agreement for sale of its assets in Lafarge India to soaps and chemicals maker Nirma for $1. Apr 1, 2015 · Lafarge and Holcim decided on new financial terms and leadership to pull through the merger plan as it was almost on the verge of collapse. "The final order on the case should be out within a month," Mr Chawla said. The company also markets aggregates and is one of Indias leading ready-mix concrete manufacturers. Apr 1, 2015 · Fair trade watchdog CCI has given its green signal for the Holcim-Lafarge merger deal that would create the world's largest cement group, while directing Lafarge to sell its two plants in India to address anti-competition concerns. - Cement producer giant LafargeHolcim sells their unit in India to Nirma for $1. Dec 28, 2015 · In a significant judgment passed in batch petitions of “Lafarge India Limited Vs. Oct 11, 2022 · Acquisition, mergers and amalgamation by or between enterprises are notifiable to the CCI if the parties therein or their group meet the assets or the turnover thresholds in India or worldwide with the minimum India component. It discusses the recent trends and development of the law and policy in relation to merger control and some of the major combination cases handled by the (Competition Commission of India) CCI. The said agreement inter alia provides that certain actions of LIPL cannot be taken without the prior written consent of PCIHL. In February 2016, CCI had allowed the Lafarge-Holcim merger for a second time, provided Lafarge sell all its Indian assets. According to investment bank sources, global private equity companies, including Blackstone and KKR, as well as local INTRODUCTION 1. Jan 11, 2016 · The Competition Commission of India (CCI) asked Lafarge India to sell its 5. On completion of the Lafarge and Holcim merger last July, the newly formed company agreed to divest sections of its business, to avoid an overriding market share. Mar 21, 2016 · This came after the Competition Commission of India (CCI) approved the sale of Lafarge India. Get free access to the complete judgment in Lafarge India Limited, v. Aug 31, 2016 · The Competition Commission of India (CCI) has imposed more than Rs 6,700 crore penalty on 11 cement companies - UltraTech, Binani, Ramco, Jaiprakash Associates, JK Cement, Lafarge, India Cements, ACL, ACC, Century, Shree Cement, besides Cement Manufacturers’ Association (CMA) – for cartelisation. 10. Lafarge India operates three cement plants and two Nov 23, 2014 · New Delhi: Exercising its rarely-used powers for the second time in less than three months, fair trade watchdog CCI has put another mega merger deal -- between Holcim and Lafarge -- under public Apr 13, 2016 · In India, the anti-trust regulator CCI asked LafargeHolcim to sell some of its assets to complete the merger. LafargeHolcim on Monday announced it has entered into a letter agreement with Nirma Limited subject to approval by the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India for an enterprise value of approximately $1. 3 million tonne per annum cement business of Emami for an enterprise value Rs 5,500 crore. The CCI approval, however, came with a rider — both the firms will have to divest two cement plants to address monopoly concerns. , filed a notice about the proposed combination with the Competition Commission of India on the 7th of July, 2014. Feb 23, 2015 · Holcim-Lafarge asked to divest assets in eastern India by CCI Swiss cement group Holcim and Lafarge, its French rival, had announced a global merger on April 7, 2014, and applied for approval from Apr 2, 2015 · 02 April 2015 Holcim and Lafarge yesterday announced they have received clearance from the Competition Commission of India (CCI) on their proposed merger. View full document 8/6/2018Holcim-Lafarge merger faces CCI hurdle in India - The Smart Investor1/2Holcim-Lafarge merger faces CCI hurdle in IndiaAbhineet Kumar & Chandan Kishore Kant/Mumbai 02 Feb 15 | 06:25 PMShareDespite announcing $7. Apr 20, 2016 · Lafarge India was originally asked by the CCI in February 2015 to sell off 5. The list of companies includes UltraTech Cement, Binani, Ramco Cement, Jaiprakash Associates, JK Cement, Lafarge, India Cements, Ambuja Cements, ACC, Century, Shree Cement, besides Cement Manufacturers' Association Jun 28, 2013 · Competition regulator CCI has given its go-ahead to the proposed 14 per cent stake sale in french cement major Lafarge' Indian subsidiary to Baring Private Equity Asia, saying the deal will not adversely effect competition in the country. for Rs5,000 crore along with the mining rights to abide by the Competition Commission of India (CCI) rules. The said changes were intimated to the Commission by the Parties vide their letter dated 24. The deal is a classic example of how companies can save deals from collapsing and can be a win-win situation for all stakeholders. Warning: Make sure you scan the downloaded attachment with updated antivirus tools before opening them. The said information was received by the Commission under Regulation 16 of the Competition Jan 3, 2025 · The Competition Commission of India (CCI) has found tech giant Apple to have indulged in anti-competitive practices following an investigation into the iPhone maker’s app store processes, Mint LafargeHolcim today announced that it is considering a divestment of its interest in Lafarge India with an annual cement capacity of around 11 million tonnes. 4 Holcim is a global producer of cement and other construction material such as RMC (Ready Mixed 4 Competition Commission of India. VX> has received a revised order from the Competition Commission of India (CCI) to divest its interest in Lafarge India, including three cement plants and two grinding Feb 9, 2016 · Swiss multinational cement giant LafargeHolcim has got fair trade regulator CCI’s go-ahead for a new divestment plan for its India business including three cement plants and two grinding Nov 22, 2014 · The world's cement giants - Holcim and Lafarge - have said that their plans of global merger will not have adverse impact on Indian cement market. Dec 24, 2014 · The proposed merger of Holcim and Lafarge in India is well on track, though the future structure will be decided upon getting approval of the competition watchdog Competition Commission of India (CCI), Swiss cement major Holcim said on Wednesday. 15-mt cement capacity in Chhattisgarh and Jharkhand to Birla Corporation for ~5,000 crore ran into trouble. One plant is the Sonadih unit in Raipur district of Chhattisgarh and the other is Jojobera — a grinding unit — in Jharkhand. Apr 7, 2014 · CCI may have to sign off on merger plans by France's Lafarge and Switzerland's Holcim as any deal would have a significant impact on the local cement industry. Nov 17, 2021 · Nirma Ltd. Future structure will be decided upon getting CCI approval Holcim and LafargeÔÇÖs merger is well on track in India, though the future structure will be decided upon getting approval of the Competition Commission of India (CCI), reports NDTV. According to investment bank sources, global private equity companies, including Blackstone and KKR, as well as local companies CRH, JSW Cement and Piramal Enterprises have shown interest in the sale. This decision came after the company's plan to sell its 5. 1 MT and 4. 2014), the Competition Commission of India (CCI) received a notice from Holcim Limited (Holcim) and Lafarge S. 15 million tonnes. Jul 11, 2016 · (MTPA) Lafarge India. 6. May 1, 2016 · CCI has appointed French audit firm Mazars to monitor the divestment of French cement giant Lafarges entire India operations. Dec 24, 2014 · French cement maker Lafarge has four manufacturing plants at Chhattisgarh, West Bengal, Rajasthan and Jharkhand in India with a cumulative capacity of over 11 mtpa now. Sep 1, 2016 · "The company proposes to go on appeal to COMPAT against the order of CCI," it said. A package of asset divestments has been agreed with the CCI which involves the sale of the Sonadih cement plant and Jojobera grinding unit both owned by Lafarge. The CCI, approval for Indian Lafarge-Holcim combination was subject to divestiture of Lafarge’s Jojobera plant located in India: LafargeHolcim has received a revised order from the Competition Commission of India (CCI) for the sale of its stake in Lafarge India. Thus, the company issued a fresh proposal of divesting its entire India business. In that context, a package of assets for divestments had been agreed with the CCI which includes the Sonadih cement plant and Jojobera grinding station in Eastern India currently operated by Lafarge India. Holcim and Lafarge, the world's two largest cement companies have combined annual Lafarge SA has signed an agreement to raise 200 million € through capital increase subscribed by Baring Private Equity, Asia, and representing a 14 % minority stake in its Indian subsidiary, Lafarge India Private Limited. Lafarge India operates three cement plants and two grinding stations with a total capacity of around 11 million tonnes per annum. CCI feared a monopoly given that Holcim Jul 30, 2022 · A brief overview of key procedures and practical considerations surrounding merger notification and clearance in India, including timetables, documentation and sanctions for noncompliance. This includes three cement plants and two grinding stations with a total capacity of around 11Mt/yr. 15-mt cement capacity in Chhattisgarh and Jharkhand to Birla Corp. Apr 15, 2016 · The Competition Commission of India cleared the merger of Lafarge and Holcim subject to condition that both the companies will have to sell capacities of 5MT in Eastern India. The package of asset divestments which the two companies agreed upon with the CCI, includes two plants of Lafarge India in the eastern market. 15Mt/yr cement capacity in Chhattisgarh and Jharkhand to Birla Corporation for US$749m ran into trouble. May 19, 2015 · The Competition Commission of India (CCI) has cleared the proposed merger of Lafarge and Holcim, which will create the world’s largest cement company by manufacturing capacity and sales. The deal, if allowed to materialize without divestment, would have created the dominance of the company in eastern India. Lafarge India Limited v. Jan 6, 2016 · Lafarge India is reported to have submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11-million tonne cement business in India after its plan to sell 5. Over the past couple of years, the orders passed by the COMPAT have vouched for procedural fairness in the assessment of cases by the Competition Commission of India (herein after CCI/Commission). (2015). The company appointed Arpwood Capital and Citi as investment bankers to sell the entire India operations, which has an annual production capacity of 11 million tons. The combination relates to acquisition of Lafarge Mar 30, 2015 · The Competition Commission of India (CCI) ordered the divestment in February after concluding that the merger of the two multinationals could have an adverse effect on competition in the country's Aug 31, 2016 · In a release, Competition Commission of India (CCI) said Rs 6,715-crore penalty has been imposed on 10 cement companies and the CMA. 51 billion). Mar 8, 2016 · In 2015, Competition Commission of India (CCI) had directed Lafarge to dispose of its cement assets following its merger with Swiss cement company Holcim in 2014. In February 2016, the CCI had reportedly approved the Lafarge's proposal for a second time after it told the Apr 14, 2016 · The Competition Appellate Tribunal has stayed Lafarge India Pvt Ltd's sale of its cement capacity of 11 million tonnes, in a setback to the global merger between French cement giant Lafarge and Swiss building materials firm Holcim. The regulator has asked the companies to publish details of the deal in newspapers as well as on the commission’s website for public consultation. The French cement giant has put the business on the block after receiving approval from the Competition Commission of India to meet its global merger process with Swiss giant Holcim May 9, 2016 · The sale process of Lafarge’s India asset, for which a slew a private equity firms and cement manufacturers like Irish major CRH group, Heidelberg Cement, Blackstone, Aion Capital and domestic players like JSW and the Piramal Group, had shown interest and put in their bids was halted by Compat on April 13 on the appeal by Dalmia Cement which said that the CCI had overstepped its jurisdiction Feb 10, 2016 · LafargeHolcim has received a revised order from the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India. MT, respectively and Lafarge has around 7. The CCI has imposed more than Rs 6,700 crore penalties on 11 cement companies for cartelisation. The decision comes after the company s plan to sell its 5. has been directed by Competition Commission of India to sell its two plants in India to address anti-competition concerns. Competition Commission of India cleared the merger of Sep 19, 2015 · Birla Corp acquired Jojobera and Conadih cement plant from Lafarge for an enterprise value of INR 5000 crores which have a connection to the global merger of Lafarge from France and Holcim from Swiss had announced in April 2014 the industry’s biggest-ever such deal. The CCI said the transaction isn’t likely to change the market position of Lafarge. 2Mt/yr of production capacity in Chhattisgarh and Jharkhand in eastern India. Apr 1, 2015 · With this approval, the two cement giants will have to sell capacities worth five million tonnes in India’s eastern parts. Competition Commission of India, Builders Association of India, on CaseMine. The notice was filed pursuant to the execution of an investment agreement between Financiere Lafarge, LIPL and PCHIL on 14th May, 2013. In a joint filing to CCI, Lafarge and Holcim had said that they would continue to face aggressive competition from Indian cement makers such as UltraTech, Shree Cement and Jaypee at a pan-India level. Lafarge India operates three cement plants and two grinding stations with a total capacity of Continue reading "LafargeHolcim enters Apr 12, 2016 · Lafarge India has received nine non-binding bidders for its 11-million-tonne asset, valued at around Rs 10,000 crore. The request was a condition to allow the merger of Lafarge and Holcim in the country. for Rs 5,000 crore ran into trouble. Holcim-Lafarge Merger: The Timeline The parties involved, namely Holcim Ltd. The bidding criteria could change — the Competition Appellate Tribunal (Compat) will be scrutinising the CCI order, after Dalmia Cement’s appeal against it. by Lafarge S. 4 Apr 1, 2015 · NEW DELHI: The Competition Commission of India (CCI) has cleared the proposed merger of French cement maker Lafarge and Swiss peer Holcim, which will create the world's largest cement company by manufacturing capacity and sales. Apr 14, 2016 · Dalmias legal counsel said CCI can ratify the new deal only after a fresh notice is filed by Lafarge listing details of the proposed buyer. This article examines the procedure of the CCI in relation to so-called Phase II inquiries in proposed combinations and highlights some of the teething issues that may Feb 9, 2016 · Swiss multinational cement giant LafargeHolcim has got fair trade regulator CCI’s approval for the divestment of its interest in Lafarge India. The divestment will include three cement plants and two grinding stations with a total capacity of around 11 million tonnes per annum. The document discusses two merger cases analyzed by the Competition Commission of India (CCI): the Holcim-Lafarge merger and the DLF-PVR merger. Subsequently the sale has been Jan 6, 2016 · 06 January 2016 Lafarge India has submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11Mta of assets in India, Business Standard reports, citing an investment banker familiar with the development. The decision comes after the company's plan to sell its 5. A package of asset divestments has been agreed with the CCI which includes 1 cement plant and 1 grinding station from Lafarge (with a total of approximately 5 million tonnes annual cement capacity)* in Eastern India. CCI, Lafarge, Holcim agree on package of asset divestments IndiaÔÇÖs competition watchdog has granted Lafarge and Holcim approval for their proposed merger, reports Hub-4. Competition Commission of India, TA (AT) (Comp) No. (Lafarge) in relation to the proposed merger of equals through an exchange offer resulting, upon completion, in the acquisition by Holcim of all the outstanding shares of Lafarge. 4 billion (approximately €1. The Apr 29, 2016 · NEW DELHI: The country’s fair trade regulator Competition Commission of India (CCI) has appointed French audit firm Mazars to monitor the divestment of French cement giant Lafarge ’s entire India operations. Jan 27, 2022 · Sl. Apr 21, 2021 · It discusses the recent trends and development of the law and policy in relation to merger control and some of the major combination cases handled by the (Competition Commission of India) CCI. May 14, 2016 · CCI had approved the merger between Lafarge and Holcim in February 2016, as long as Lafarge divested its assets in India. The board of directors of the Parties made an announcement regarding the revised terms of the Combination Agreement pertaining to exchange ratio and certain governance provisions on 20. 4 billion LafargeHolcim have entered into a letter agreement with Nirma Ltd, subject to approval by the Competition Commission of India (CCI), for the divestment of their interest in Lafarge India for an enterprise value of approximately US$1. 3. Dalmia challenged the CCI’s approval on procedural grounds querying both the revised and original order for the sale. The company plans to launch a new sales process for Lafarge India LafargeHolcim has received approval from Competition Commission of India to yield Lafarge India, reports Zonebourse. 22 of 2017 and connected appeals. May 9, 2016 · Dalmia had challenged an approval given by the Competition Commission of India (CCI) to the proposed merger. 15 Apr 14, 2020 · Ambuja Cements Limited v. Mar 19, 2018 · After an intense scrutiny, CCI has ordered Lafarge to divest its plants in Jharkhand and Chhattisgarh in order to effectively eliminate "appreciable adverse effect on competition" due to the proposed deal. 3 As per the details submitted by the parties under Form IV to CCI, Holchim and Lafarge are active players at an international level in the production and supply of cement (grey and white), aggregates, Ready Mix Concrete (RMC), and to lesser extent additives, asphalt, mortar and pre-cast concrete products. The company also markets aggregates and is one of India's leading ready-mix concrete manufacturers. India’s Competition Act requires notification to the CCI of all ‘combinations’ (mergers and Apr 18, 2016 · Will Lafarge’s India divestment plan get derailed again? This time, the challenge has come from rival firms questioning the process followed by the Competition Commission of India Jul 11, 2016 · In February, LafargeHolcim said it has received a revised order from CCI for the divestment of its interest in Lafarge India, including three cement plants and two grinding stations with a total Feb 10, 2016 · NEW DELHI/ZURICH, Feb 9: Swiss multinational cement giant LafargeHolcim has got fair trade regulator CCI’s go-ahead for a new divestment plant for its India business including three cement plants and two grinding stations. Apr 21, 2021 · In summary This chapter explains the salient features of the merger control regime under Indian competition law. Feb 9, 2016 · LafargeHolcim has announced that it has received a revised order of the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India, including three cement plants and two grinding stations with a total capacity of around 11 million tpy. The Competition Commission of India (CCI) and the two cement giants have agreed on a package of asset divestments that includes a cement plant and a grinding station from Lafarge, with a total of approximately 5 million LafargeHolcim announces it has entered into a letter agreement with Nirma Limited subject to approval by the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India for an enterprise value of approximately USD 1. (“Lafarge”) (hereinafter, Holcim and Lafarge are collectively referred to as the “Parties”). 4 billion). Subsequently, the MLex Summary: The Competition Commission of India is inviting public comments on the proposed merger between cement makers Holcim and Lafarge, which was notified to the CCI on July 14. Feb 4, 2016 · India: LafargeHolcim has confirmed that it is considering selling its subsidiary Lafarge India. CCI granted the final approval subject to the incorporation of certain remedies to the proposed merger. The company also markets aggregates and is one of India’s Get free access to the complete judgment in Lafarge India Limited v. Ltd. Jan 6, 2016 · Lafarge India has submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11million tonne (mt) asset in India. May 27, 2015 · CCI further noted that Lafarge is a global producer of cement and other construction material such as RMC, aggregates, asphalt, and pre-cast concrete products. The deal almost collapsed because of public wrangling between the two companies. 2015, the Parties, in order to ensure compliance with the Order, submitted an alternative proposal envisaging sale of 100 percent of the share capital of Lafarge India (hereinafter referred to as “Alternative Proposal”). Soon after this merger was announced, Lafarge India was directed by the Competition Commission of India (CCI) to sell its assets in eastern India, which had a capacity of 5. French cement giant Lafarge has started the process to sell off its operations in India, with the value estimated at approximately INR 100 billion (€1. Lafarge was engaged in the RMC and aggregates segments in India through its indirect subsidiaries Lafarge India Private Limited and Lafarge Aggregates & Concrete India Private Limited. It also provides a brief overview of the measures taken by the CCI in light of the covid LafargeHolcim enters into agreement with Nirma Limited for divestment of Lafarge India LafargeHolcim announces it has entered into a letter agreement with Nirma Limited subject to approval by the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India for an enterprise value of approximately USD 1. After the Apr 1, 2015 · Lafarge and Holcim have received clearance from the Competition Commission of India (CCI) for their proposed merger. and Lafarge S. Aug 17, 2015 · As announced in April 2015, LafargeHolcim has received conditional clearance from the CCI for the merger. The CCI ''formed a prima facie opinion that the combination is likely to have an appreciable adverse effect on . A. On 14. The USD 40 billion-deal, which a few weeks ago was on the verge of even falling apart, was also the second instance where the CCI sought public comments to assess LafargeHolcim has entered into a letter agreement with Nirma subject to approval by the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India for an enterprise value of approximately US$1. Apr 2, 2015 · The Indian anti-trust authority Competition Commission of India (CCI) has given its consent to the Indian leg of the proposed $44 billion merger between France's Lafarge SA and Swiss peer Holcim, which would create the world's largest cement company by manufacturing capacity and sales, according to a statement. No. Apr 1, 2015 · The Competition Commission of India has approved the merger of cement giants Lafarge and Holcim on the basis that Lafarge will divest one cement plant and one grinding station in Eastern India. Feb 8, 2016 · LafargeHolcim Ltd. 07. LafargeHolcim announces it has entered into a letter agreement with Nirma Limited subject to approval by the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India for an enterprise value of approximately USD 1. 6 billion. 4 billion (about Rs 9,400 crore). Jan 6, 2016 · Lafarge India has submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11-million tonne (mt) asset in India. 5 billion Swiss franc ($3. Jul 11, 2016 · India/Switzerland: LafargeHolcim has announced that it has entered into a letter agreement with Nirma Limited subject to approval by the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India for an enterprise value of approximately US$1. city of around 6. This decision comes after the company’s plan to sell its 5. CCI has decided that a divestiture Jul 11, 2016 · LafargeHolcim has agreed to sell its stake in Lafarge India to Nirma Ltd for an entrerprise value of approximately $1. 4bn. Building material major Holcim has controlling stakes in both ACC Ltd and Ambuja Cements with a cumulative cement-making capacity of over 58 million The CCI approved the sale of assets Lafarge India has begun sale process this week after receiving approval from the Competition Commission of India, reports Business Standard. Jul 6, 2016 · Lafarge India had submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11-mt asset in India. Jul 11, 2016 · The world's largest cement maker LafargeHolcim has agreed to sell its Indian business Lafarge India to Nirma Ltd. There have been concerns that the transaction could raise anti-competitive issues in the Indian market. The cement producer, part of Dalmia Group, appealed against the Competition Commission of India’s (CCI) revised approval of the sale in February 2016. Apr 1, 2015 · The Competition Commission of India (CCI) has cleared the proposed merger of Lafarge and Holcim today, four months ahead of the planned schedule of merger. The CCI believed that the proposed divestiture was a remedy to Dalmia Cement (Bharat) threw a spanner in the works of the sale of Lafarge India this week. Originally as part of the LafargeHolcim merger agreements the CCI asked Lafarge to sell 5. Jul 11, 2016 · Ahmedabad's detergent maker Nirma Limited has agreed to buy Lafarge India 's 11 million tonnes per annum (mtpa) cement assets for Rs 9,300 crore ($1. The CCI has instructed that both the firms will have to divest two cement plants to address monopoly concerns. Jun 22, 2012 · The CCI has imposed an unprecedented penalty of Rs 6,307 crore on 11 cement makers, including the Indian arms of global leaders. all the key markets in India. including three cement plants and two grinding Dec 24, 2014 · New Delhi: The proposed merger of Holcim and Lafarge in India is well on track, though the future structure will be decided upon getting approval of the Competition Commission of India (CCI Apr 14, 2016 · However, Lafarge was unable to sell the two plants since the Mines and Minerals Development and Regulation (MMDR) Act prohibited transferring of rights of limestone mines attached with cement plans. The merger could hurt competition in the country IndiaÔÇÖs competition regulator, the Competition Commission of India (CCI), expressed concerns regarding the upcoming merger of Holcim and Lafarge, claiming that it is likely to hurt competition in the country, reports Domain-B. 15 million tonne. Feb 8, 2016 · LafargeHolcim <LHN. 5 times the net profit for two years. "In India both companies are well on track in preparing the merger of Holcim and Lafarge, with future structure for this subcontinent to be announced in due course upon clearance by CCI, Lafarge, Holcim agree on package of asset divestments IndiaÔÇÖs competition watchdog has granted Lafarge and Holcim approval for their proposed merger, reports Hub-4. Jul 12, 2016 · In July this year, Swiss cement giant Lafarge-Holcim had announced that it was entering an agreement to sell its assets in Lafarge India to Nirma for $1. (“Lafarge”) (erstwhile Holcim and Lafarge and now “LafargeHolcim” are collectively referred to as the “Parties”). The LafargeHolcim Ltd, the world’s largest cement maker, on Monday said it will sell its stake in Lafarge India to Nirma Ltd for an enterprise value of about $1. Feb 9, 2016 · Swiss multinational cement giant LafargeHolcim has got fair trade regulator CCI's go-ahead for a new divestment plant for its India business including three cement plants and two grinding stations. Feb 9, 2016 · Group to launch new divestment process for Lafarge India following revised order from Competition Commission of India LafargeHolcim have received a revised order of the Competition Commission of India (CCI) for the divestment of their interest in Lafarge India, including three cement plants and two grinding stations with a total capacity of around 11 million tonnes per annum. 3 million tonne Mar 21, 2018 · The Competition Appellate Tribunal (CAT) stayed a February order by antitrust watchdog Competition Commission of India (CCI) allowing the sale of Lafarge India until the next hearing on May 9, according to an order posted on the tribunal's website. It discusses the recent trends and development of the law and policy in relation to merger control and some of the major combination cases handled by the Competition Commission of India (CCI). Apr 14, 2016 · The Competition Appellate Tribunal (Compat) has halted the sale of Lafarge India after an appeal by a rival, delaying the merger of Lafarge and Holcim's Indian operations. Feb 22, 2015 · The country’s anti-trust regulator, Competition Commission of India, has written to Holcim-Lafarge to divest some of its units, including limestone reserves, to prevent a monopoly in eastern The proposed combination comprises the subscription of 14. Sources indicate that the sale of Lafarge India could fetch more than $1 billion. 15-mt capacity in eastern India by December 31, 2015 to complete the merger. The two companies enjoy dominance in the Indian market with a total capacity of 68 million tonnes, Reuters reported. It agreed to sell five cement plants to Nirma for US$1. The proposed transaction is an alternate remedy for Feb 9, 2016 · LafargeHolcim has received a revised order from the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India, including three cement plants and two grinding stations with a total capacity of around 11 million tonnes/year. Case No. The pre-merger notification thresholds prescribed in section 5 of the Act are outlined in the table. Nov 23, 2014 · Exercising its rarely-used powers for the second time in less than three months, fair trade watchdog CCI has put another mega merger deal – between Holcim and Lafarge – under public scrutiny after prima facie finding it could hurt competition in Indian cement market. Feb 9, 2016 · In a statement, LafargeHolcim said it has received a revised order from CCI for the divestment of its interest in Lafarge India, including three cement plants and two grinding stations with a total capacity of nearly 11 million tonnes per annum. The CCI approval, however, came with a rider - both the firms will have to divest two cement plants to address monopoly concerns. 2014, the Competition Commission of India (“Commission”) received a notice (“Notice”) under sub-section (2) of Section 6 of the Competition Act, 2002 (“Act”) given by Holcim Ltd. Nov 22, 2014 · Finding prima facie violation of competition norms in the proposed Holcim-Lafarge merger, fair trade regulator CCI today launched a public scrutiny of the finer details of the deal that would create one of the world's largest cement makers. 03. (collectively, the “Parties”). Jul 11, 2016 · Swiss cement giant LafargeHolcim today announced agreement for sale of its assets in Lafarge India to soaps and chemicals maker Nirma for USD 1. 1. "LafargeHolcim announces it has entered into a letter of agreement with Nirma Ltd subject to approval by Competition Commission of India (CCI) for the divestment of its interest in Lafarge India for an enterprise value Jun 15, 2015 · As part of the implementation in India of its planned merger with Holcim - and subject to its completion - Lafarge has signed an agreement to acquire the 14 stake held by Baring in Lafarge India, for a consideration of €270 million. a6ts iqxx ej cx wz95u 9d8nkvd0 bfc ze6z lls7 1k7t