Displaying items by tag: Speculation
Shree Cement denies links to Shiva Cement deal
21 November 2016India: Shree Cement has denied that it is in talks to buy a majority stake in Shiva Cement describing media reports as ‘purely speculative.’ Local media had reported that Shree was considering buying Shiva for around US$0.22/share.
Shiva Cement has a 0.2Mt/yr cement plant near Rourkela in Sundergarh district in Odisha with on-going plans to upgrade the site to 1Mt/yr. The company also has captive limestone reserves in the area and produces both Sumangal
Ajay Piramal linked to Lafarge India sale
03 March 2016India: Ajay Piramal, the Indian businessman and chairman of Piramal, has started talks with Lafarge India to buy its assets, according to sources quoted by the Economic Times. Speculation has followed Piramal since he sold his pharmaceuticals business for US$3.8bn in 2010. If completed, the move would mark a diversification from Piramal’s healthcare, financial services and information management businesses.
Piramal and Lafarge India separately declined to comment on the issue. Lafarge India is selling all of its assets in India including a cement production capacity of 11Mt/yr.