India: JSW Cement has acquired a promoters' share in Shiva Cement and has also launched an open offer to acquire a 32% stake from public shareholders in the company. JSW Cement, with Sun Investments Private and Reynold Traders, has made an open offer to the public equity shareholders of Shiva Cement to buy up to a 32% share in the company at a value of US$12.8m. In late September 2016 promoters of Shina Cement held a 37.15% stake, while public shareholders held the remaining 62.85%, according to Indian media.
JSW Cement makes open offer to buy out Shiva Cement
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