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News Nirma rumoured to be considering Emami bid

Nirma rumoured to be considering Emami bid

Written by Global Cement staff 04 February 2020
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India: Nuvoco Vistas Corporation, Nirma Ltd’s cement making subsidiary, is reported to be considering a partnership with either Apollo Global Management or Bain Capital to bid for Emami Cement, according to sources quoted by the Mint news outlet. Emami Cement’s owners RS Agarwal and RS Goenka are seeking a valuation of around US$1bn for the company, which operates a 2.5Mt/yr integrated plant at Risda in Chhattisgarh and a 2.5Mt/yr grinding plant at Panagarh in West Bengal.

Emami also acquired a 0.6Mt/yr grinding plant at Bhabua, Bihar in September 2018. In addition, the firm has mining assets in Guntur in Andhra Pradesh and near Jaipur in Rajasthan. Its main markets are in West Bengal, Chhattisgarh, Odisha, Jharkhand, Bihar, Maharashtra and Madhya Pradesh, where it markets its products under the Double Bull brand.

LafargeHolcim and HeidelbergCement both submitted expression of interest in Emami, while UltraTech Cement has also been linked to the firm.

Last modified on 05 February 2020
Published in Global Cement News
Tagged under
  • Nirma
  • India
  • Emami Cement
  • LafargeHolcim
  • HeidelbergCement
  • Apollo Global Management
  • Bain Capital
  • Acquisition
  • GCW441
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