UAE: Shree Global has agreed to acquire a further 40% stake in Union Cement Norcem for US$3.95m. The deal will increase Shree Global’s stake in the company to 100%. It is expected to complete the transaction by the end of June 2022. Union Cement Norcem markets and sells oil well cement, while Shree Global’s parent company, India-based Shree Cement, operates a 4.8Mt/yr cement plant at Ras Khaimah.
Shree Global to acquire remaining 40% stake in Union Cement Norcem
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