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.
UltraTech Cement to sell Chinese business for US$120m
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URL: https://globalcement.com/news/item/11058-ultratech-cement-to-sell-chinese-business-for-us-120m
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