Displaying items by tag: UltraTech Cement Middle East Investments
RAK White Cement encourages shareholders to accept UltraTech Cement’s offer to acquire stake
11 June 2024UAE: The board of RAK White Cement has recommended that its shareholders accept a cash offer from UltraTech Cement for the acquisition of a further stake in the company. Global Cement News reported in May 2024 that UltraTech Cement had offered to acquire 32% of shares in the company. It previously acquired 29% in April 2024.
UAE: Aditya Birla subsidiary UltraTech Cement Middle East Investments has offered to acquire a new 32% stake in RAK White Cement. The Business Standard newspaper has reported that UltraTech Cement Middle East Investments previously announced its acquisition of a 29% stake in RAK White Cement on 15 April 2024.
Sumitomo Mitsui Banking Corporation provides credit facility for UltraTech Cement Middle East Investments
05 January 2024UAE: India-based UltraTech Cement has issued a guarantee of US$147m in favour of the Singapore branch of Sumitomo Mitsui Banking Corporation. Reuters has reported that the guarantee is for a credit facility in favour of the producer’s UAE subsidiary UltraTech Cement Middle East Investments.
UltraTech Cement Middle East Investments obtained a majority stake in Duqm Cement in Oman in 2023.
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