The tug of war between UltraTech Cement Ltd and Dalmia Bharat Ltd over the acquisition of Binani Cement Ltd has finally ended. Effective 20 November, Binani Cement is a wholly-owned subsidiary of UltraTech Cement...
Ultratech Cement makes Binani its subsidiary
A day after the apex court cleared its bid for Binani CementNSE 0.00 %, Ultratech CementNSE -0.01 % announced that the Braj Binani group flagship company has become a subsidiary of Ultratech. The board of Binani Cement...
Supreme Court upholds UltraTech’s Binani Cement acquisition bid
In a victory for UltraTech Cement Ltd, the Supreme Court on Monday upheld an order of the National Company Law Appellate Tribunal (NCLAT) approving its revised ₹7,900 crore bid to buy debt-laden Binani Cement Ltd. While...
Dalmia Cement (Bharat) moves Supreme Court against NCLAT order; hearing on Monday
Dalmia Cement (Bharat) petitioned the Supreme Court on Thursday, challenging the appellate tribunal’s ruling that upheld UltratechNSE 1.28 %’s plan for Binani CementNSE 0.00 % and rejected Dalmia’s...
NCLAT Approves UltraTech’s Revised Bid of 7,950 crore for Binani Cement
The National Company Law Appellate Tribunal ( NCLAT) on Wednesday approved UltraTech’s revised bid of ₹7,950 crore for debt-laden Binani Cement, calling Dalmia Bharat’s offer for the asset “discriminatory” against...
True North to buy 75% of Shree Digvijay Cement from Brazil’s Votorantim Cimentos
Homegrown private equity fund True North on Tuesday said it will acquire a 75% stake in Shree Digvijay Cement Co. Ltd from Brazil-based Votorantim Cimentos, one of the largest global cement producers in terms of annual...
Semen Indonesia to buy LafargeHolcim’s Indonesian unit for $917 million
Indonesia’s biggest cement maker Semen Indonesia is buying the local business of Swiss company LafargeHolcim for roughly $917 million, in a move that will consolidate the struggling Indonesian industry. The acquisition...
Blackstone, Temasek in talks for Wonder Cement stake
Private equity investors Blackstone Group and Temasek Holdings are in separate discussions to acquire 15-20% in Wonder Cement, part of Rajasthan-based RK Group, for Rs 1,000 crore. Wonder Cement is one of the largest...
India Cements to buy Springway Mining for Rs 1.82 bn to set up a MP plant
India Cements Ltd on said Sunday it has agreed to acquire Springway Mining for a total consideration of Rs 1.82 billion to set up a cement plant in Madhya Pradesh. “Our company has entered into a share purchase...
Ultratech gets CCI nod to acquire Century cement business
Aditya Birla Group firm UltraTech today said it has received an approval from the fair trade regulator Competition Commission for the acquisition of the cement business of Century Textiles and Industries. The company...
Heidelberg Cement eyes parts of Lafarge Holcim’ Indonesia business
Heidelberg Cement (HEIG.DE) could buy parts of Lafarge Holcim’s (LHN.S) business in Indonesia that is up for sale, Heidelberg Cement Chief Executive Bernd Scheifele said on Tuesday. Lafarge Holcim is planning to raise...
Insolvency process: SC asks Binani Cement pleas to be moved to NCLAT
The Supreme Court on Monday ordered transferring all litigations related to Binani Cement’s insolvency resolution pending at the Kolkata Bench of the National Company Law Tribunal (NCLT) to the National Company Law...
