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News Sagar Cements to sell 47% stake in Vicat Sagar Cement

Sagar Cements to sell 47% stake in Vicat Sagar Cement

Written by Global Cement staff 09 July 2014
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India: Sagar Cements plans to sell its 47% stake in the joint venture company Vicat Sagar Cement to Vicat Group. Sagar Cement's board will consider the sale of its investment in the plant located at Chatrasal, Karnataka, at a meeting on 15 July 2014. Sagar Cements had invested US$14.3m in the first phase of the plant with 2.75Mt/yr capacity. Commercial production commenced in January 2013. France's Vicat is willing to acquire the stake to make Vicat Sagar Cement a completely-owned entity. Vicat is hoping to complete the entire transaction by September 2014.

Last modified on 09 July 2014
Published in Global Cement News
Tagged under
  • India
  • Plant
  • VICAT
  • Acquisition
  • Sagar
  • Vicat Sagar Cement
  • GCW158

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