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News UltraTech Cement to sell Chinese business for US$120m

UltraTech Cement to sell Chinese business for US$120m

Written by Global Cement staff 08 July 2020
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China/India: UltraTech Cement has agreed to sell its majority stake in Shandong Binani Rongan Cement for around US$120m. As part of the deal its subsidiaries Krishna Holdings and Nathdwara Cement will both divest their shareholdings in the company. UltraTech Cement picked up the 3Mt/yr plant in 2018 as part of its acquisition of Binani Cement in 2018. The buyer has not been named.

Last modified on 08 July 2020
Published in Global Cement News
Tagged under
  • China
  • India
  • UltraTech Cement
  • Binani Cement
  • Divestments
  • Plant
  • Shandong Binani Rongan Cement
  • GCW463
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