The firm has entered advanced talks about picking up a minority stake according to Reuters, which cited two sources with direct knowledge of the matter.
The news comes two months after it emerged Baring and Singapore sovereign investor Temasek were among shortlisted bidders aiming to buy up to 30 per cent in the Indian operations of Lafarge, the world’s largest building materials company.
Lafarge India was said to be looking to raise INR13.25bn ($250m) to finance its INR60bn expansion plans and was hoping to complete the sale process by March, the Economic Times said at the time.
A previous report by Reuters said KKR was also tapped up by Paris-based Lafarge to buy the stake, adding that Lafarge could exit India entirely if a strategic buyer offered to buy all of its operations in the country.
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