Mumbai: The race to acquire engineering and construction giant Larsen & Toubro's ready-mix concrete (RMC) business appears to be nearing its end with its sale likely to be sealed soon.

Larsen & Toubro (L&T), as a part of its future growth strategy, has expressed its intent to exit non-core businesses and its RMC business falls under this category.

Several cement companies, including big names such as Holcim, ACC and Lafarge, amongst others, are understood to have evinced interest in buying L&T's RMC business.

L&T presently runs its RMC business under the recently set up entity, L&T Concrete.

When contacted, an L&T spokesperson said he would not comment on the issue but confirmed that the RMC business was non-core to the company.

The cement industry grapevine is abuzz with speculation that France's Lafarge is leading the race for L&T's RMC business with the deal size estimated at around Rs 1,000 crore.

L&T presently has around 60 RMC plants pan-India, a capacity of 4-million cubic metres per annum and is the leader in the segment with a 25 per cent market share.

An ACC spokesperson, when asked if the company had put in its bid for L&T's RMC business, also declined to comment on the issue.

Source : PTI