Dalmia Bharat to acquire bankrupt Murli Industries

Print this page

India: Dalmia Bharat is set to acquire Murli Industries, a Nagpur based cement manufacturer, by investing US$62.4m. Murli owns a 3Mt/yr integrated cement plant. As per the resolution plan, Dalmia Bharat will cancel most of the equity of Murli Industries and pay its lenders US$54.6m. This is 80% below what Murli owes the banks.

Murli had a loan of US$140m but the amount it owes is US$265m after interest and penalties. However, since the lending banks have already either written off the loan or have sold it to asset reconstruction companies, the relatively low value of the rescue deal from Dalmia Bharat does not affect them.

Last modified on 03 January 2018

URL: https://globalcement.com/news/item/6895-dalmia-bharat-to-acquire-bankrupt-murli-industries

© 2019 Pro Global Media Ltd. All rights reserved.