India: Dalmia Bharat has received approval from the Competition Commission of India (CCI) to acquire a 15% stake in its subsidiary Dalmia Cement Bharat from private equity firm KKR for over US$181m in a cash and stock deal. After the purchase, Dalmia Cement Bharat will become a wholly-owned subsidiary of Dalmia Bharat.
Dalmia Bharat provides management services to the group companies belonging to the Dalmia Bharat group, owns intellectual property such as trade names for its group companies and holds shares in the group companies, either on its own or through its subsidiaries. Dalmia Cement Bharat produces cement and it also makes refractories.