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News Dalmia Bharat Cement and UltraTech Cement lead race for Binani Cement

Dalmia Bharat Cement and UltraTech Cement lead race for Binani Cement

Written by Global Cement staff 19 February 2018
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India: Dalmia Bharat Cement and UltraTech Cement have each submitted bids of around US$930m for Binani Cement. The amount also includes upfront cash payments, as well as an offer of close to 20% stake in Binani to lenders, according to sources quoted by the Hindustan Times. A winning bid is expected to be chosen by the end of February 2018.

Both bidders have been asked for additional details related to their bid to allow the creditors to make their final decision. UltraTech Cement, for example, has been asked to provide information on a Competition Commission of India (CCI) penalty imposed upon it in 2016.

Last modified on 19 February 2018
Published in Global Cement News
Tagged under
  • India
  • Dalmia Bharat
  • UltraTech Cement
  • Binani Cement
  • Bid
  • Acquisition
  • GCW341
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