Lafarge buys L

New Delhi, May 15: Lafarge, the world's second biggest cement maker, today said it has agreed to buy Larsen&Toubro's (L&T's) ready-mix concrete (RMC) business for Rs 1,480 crore as part of its expansion plan.

With this acquisition, Lafarge--the third largest cement maker in the country-- will lead the Indian RMC market, capturing a 25 per cent share, a company statement said. The company will buy 66 concrete plants of L&T located in key markets, including Delhi, Kolkata, Mumbai and Bangalore, with a total estimated capacity of 4.1 million metric cubic.

UNI