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News UltraTech Cement in talks to buy stake Emami Cement

UltraTech Cement in talks to buy stake Emami Cement

Written by Global Cement staff 28 June 2019
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India: UltraTech Cement is in talks to buy a stake in Emami Cement for up to U$800m. Sources quoted by the Economic Times newspaper say that UltraTech Cement is working with private equity companies, including KKR and Temasek Holdings, on the potential deal. Emami Group is reportedly still deciding whether to sell its entire cement business, a stake or selected assets.

Emami Cement operates a 2.5Mt/yr integrated plant at Risda in Chhattisgarh and a 2.5Mt/yr grinding plant at Panagarh in West Bengal. It acquired a 0.6Mt/yr grinding plant at Bhabua, Bihar in September 2018. In addition, the firm has mining assets in Guntur in Andhra Pradesh and near Jaipur in Rajasthan. Its main markets are in West Bengal, Chhattisgarh, Odisha, Jharkhand, Bihar, Maharashtra and Madhya Pradesh. It markets its products under the Double Bull brand.

Last modified on 03 July 2019
Published in Global Cement News
Tagged under
  • India
  • UltraTech Cement
  • Emami Cement
  • Stake
  • Deal
  • neogotiation
  • Acquisition
  • KKR
  • Temasek Holdings
  • GCW412

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