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<a href="http://www.businessinsider.in/searchresult.cms?query=Birla+Corporation+">Birla Corporation</a> announced on Monday that it would acquire two cement units of <a href="http://www.businessinsider.in/searchresult.cms?query=Lafarge+">Lafarge</a> India in <keyword id="6360371" type="COMPANY" weightage="80" keywordseo="Jharkhand">Jharkhand</keyword> and Chattisgargh. These units would be sold through a slump sale for an enterprise value of Rs 5,000 crore. 
 The French company has decided to sell its units to conclude its mega global merger with <keyword id="1763424" type="COMPANY" weightage="60" keywordseo="Holcim-Ltd">Holcim Ltd</keyword>, reported the Economic times. 
 
The transaction would be funded through existing cash reserves and incremental debt, and is subject to approval of <a href="http://www.businessinsider.in/searchresult.cms?query=Competition+Commission+of+India">Competition Commission of India</a>. 
 <keyword id="62363" type="COMPANY" weightage="80" keywordseo="Birla-Corp">Birla Corp</keyword> will acquire an integrated cement unit at Sonadih, a cement grinding unit at Jojobera, along with Concreto and PSC brands. The plants have a total cement capacity of 5.15 million tonnes per annum (mtpa). 
 
"The acquisition business has 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 <a href="http://www.businessinsider.in/searchresult.cms?query=cement+market">cement market</a>," the company said in a statement. 
 
After the completion of this <a href="http://www.businessinsider.in/searchresult.cms?query=transaction">transaction</a>, Birla Corp will consolidate its position in the east where demand supply scenario and outlook continue to remain buoyant. 
 Birla Corp, established in 1919, is part of the <keyword id="142702" type="COMPANY" weightage="40" keywordseo="MP-Birla-Group">MP Birla Group</keyword> with presence across cement and jute; cement constitutes over 90% of the company's revenues with a total operational cement capacity of 10 mtpa, it has units in Rajasthan, <keyword id="6355554" type="COMPANY" weightage="60" keywordseo="Madhya-Pradesh">Madhya Pradesh</keyword>, Uttar Pradesh and West Bengal. 
 
After the transaction, Birla Corp will have a total capacity of 15 mtpa. With addition of these brands to its existing basket of brands, Birla Corp will derive synergy benefits through consolidation of its capacity. 
 
Harsh Lodha, Chairman of Birla Corp, said: "I am very pleased to announce this very important transaction in Birla Carp's history. The business together with the Concreto and PSC brands, perfectly fit into our strategic vision and ambition of enhancing our competitiveness in our chosen markets. I am glad to welcome new talent and leaders to our Group, who share our convictions and professional culture. 
 
(Image: Indiatimes)

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<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Good morning! Here are 10 things you need to hear about in markets today.The Federal Reserve is split on when to raise interest rates. The Minutes from the latest Federal Open Market Committee (FOMC) meeting showed that the Fed is quite split on when and why it will be appropriate to tighten monetary policy with interest rate hikes. <a href="http://uk.businessinsider.com/fomc-minutes-reaction-2015-4#ixzz3WmsIf6zU%20">"Several participants" think June would be a good bet</a>. Scottish nationalists want full fiscal autonomy in any coalition negotiations. <a href="http://www.businessinsider.com/r-scottish-nationalists-to-seek-full-fiscal-autonomy-from-rest-of-britain-2015-4#ixzz3WmuFcPoj">Scottish nationalists will try to wrestle full control over taxation and spending for Scotland from the British government if they win kingmaker position in the May 7 general election</a>, their leader said on Wednesday. Greece will likely make today's payment to the IMF, but how long it can last is an open question. <a href="http://www.businessinsider.com/afp-greece-to-make-april-imf-payment-but-uncertainty-reigns-2015-4">Greece is due to make its €459 million ($495 million) April loan payment to the IMF Thursday following days of uncertainty</a>, but the European nation's ability to honour its debts remains a source of acute anxiety to creditors.Asian markets are mostly up. Hong Kong's Hang Seng has surged higher, up 3.44%, followed by Japan's Nikkei, which is 0.70% higher, while the Shanghai Composite Index is having a rare bad day, down 0.89%.Samsung reckons record S6 sales will halt its slide in profits. <a href="http://www.businessinsider.com/afp-samsung-predicts-record-s6-sales-will-halt-profit-slide-2015-4#ixzz3WmvwQZS9">Samsung said on Thursday it expected its new flagship smartphone to shatter sales records and pull the company out of a recent profit slump</a> that saw it lose ground to arch-rival Apple and cheaper Chinese makers.Switzerland sold a 10 year bond with a negative yield. On Wednesday, Switzerland sold 377.9 million Swiss francs worth of bonds maturing in 2025 and 2049, respectively, <a href="http://uk.businessinsider.com/switzerland-issues-negative-yield-bonds-2015-4#ixzz3WmxARSgw">and the yield on the 10-year paper came in at -0.055%</a>.The Bank of England's latest decision is coming at noon London time (7 a.m. ET). The <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> central bank is extremely likely to hold interest rates, and probably with a unanimous vote - it looks like the BoE won't be hiking rates until at least a few months after the Federal Reserve.Alibaba's finance arm will launch a private online bank. <a href="http://www.businessinsider.com/r-alibaba-finance-arm-ant-financial-to-launch-online-private-bank-in-june-2015-4">Alibaba Group's finance arm will launch its private internet bank, to be called MYbank in June</a>, Yuan Leiming, Ant Financial's general manager of its finance division, told Reuters in an interview in Beijing on Thursday. Lafarge and Holcim have appointed a CEO after their mega-merger. <a href="http://www.businessinsider.com/r-lafarge-holcim-appoint-eric-olsen-as-ceo-after-merger-2015-4#ixzz3WmufX462">Lafarge and Holcim have appointed long-time Lafarge executive Eric Olsen as the chief executive of their combined company</a> once their merger is completed, the two groups said in a statement on Thursday.GM is mulling a $1.3 billion (£874 million) expansion of a Texas plant. <a href="http://www.businessinsider.com/r-gm-mulls-13-billion-expansion-of-texas-assembly-plant--2015-4#ixzz3WmttuOWw">General Motors is mulling a $1.3 billion expansion of its Arlington, Texas, assembly plant to boost production of its sport-utility vehicles</a>, according to documents from the city. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/game-of-thrones-economics-2015-3">'Game of Thrones': The Iron Throne is a terrible investment</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="tvNncydDrkw0Adz4yS0Vsg8DPK1cte-i" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Good morning! Here's what you need to know before markets open in London, Paris, and Frankfurt. 
The French Government Just Approved the GE-Alstrom Merger. General Electric's <a href="http://www.businessinsider.com/r-french-government-gives-green-light-for-ge-alstom-deal-2014-11#ixzz3IAqBOUic">planned €12.4 billion ($15.6 billion) purchase of most of Alstom's power business </a>was approved by economy minister Emmanuel Macron.
PIMCO's Flagship Fund Saw Its Biggest Outflows Ever. $27.5 billion (£17.7 billion) <a href="http://www.businessinsider.com/pimco-october-total-return-fund-outflows-2014-11#ixzz3IAqoXwhX">left PIMCO's Total Return Fund in October</a>, bringing the fund's assets under management to $170.9 billion as of 31 October, a roughly 14% decline from the start of the month.
Republicans Now Control Both US Chambers Of Congress. The Republicans needed six additional Senators to win a majority in Tuesday midterm election, <a href="http://www.businessinsider.com/here-are-the-8-states-you-need-to-watch-tonight-2014-11">and won seven</a>. 
Toyota Just Boosted Its Profit Forecast 9%. Toyota <a href="http://www.businessinsider.com/r-toyota-raises-fy-profit-forecast-by-9-percent-on-weak-yen-2014-11#ixzz3IArWwVU5">raised its full-year operating profit forecast by 9.1% on Wednesday</a> as a sharp decline in the yen against increases in the value of repatriated earnings makes up for lower vehicle sales.
The IMF Thinks It Prematurely Pushed For Austerity. The IMF gave leading economies <a href="http://www.businessinsider.com/afp-imf-review-faults-premature-crisis-austerity-push-2014-11#ixzz3IAsjVknK">faulty advice following the 2008 financial crisis</a>, by directing them to cut spending and rely on central bank stimulus for growth, an internal policy review said Tuesday.
Markets Are Mixed In Asia. The Nikkei closed up 0.44%, while Hong Kong's Hang Seng is currently trading down 0.60%.
Rolls Royce Has Cut 2,600 Jobs. The engine maker is <a href="http://uk.reuters.com/article/2014/11/04/uk-rollsroyce-restructuring-idUKKBN0IO1CB20141104">also replacing its finance chief</a> after two profit warnings in an eight-month period. 
China's Services Underperformed in October. China's services PMI <a href="http://uk.reuters.com/article/2014/11/05/uk-china-economy-pmi-idUKKBN0IP05E20141105">dipped to 52.9</a>, the lowest level in three months. 
PMIs Are Coming. Between 8.15 and 9.30 a.m. GMT, European PMI readings will be released, with the overall trend in the eurozone and <keyword id="6354868" type="COUNTRY" weightage="100" keywordseo="UK">UK</keyword> expected to be slightly downward. At 10 a.m. GMT, European retail sales figures are out, with economists expecting a 0.8% drop between August and September. 
Cement Maker Lafarge's Third Quarter Met Expectations. French cement maker Lafarge, which is preparing to merge with Swiss-based Holcim, confirmed its €550 million ($696.9 million) 2015 cost-saving goal on Wednesday.

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