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...
UltraTech Cement plans to raise Rs 9,000 crore
UltraTech CementNSE 2.05 % is planning to raise Rs 9,000 crore via an issue of redeemable, non-convertible debentures on a private placement basis, the company said on Friday, while notifying the exchange NSE 0.00 % of...
Binani Cement’s acquisition can make UltraTech market leader in north India
Acquisition of Binani Cement, subject to approval, is poised to make UltraTech Cement the market leader in the north Indian cement market overtaking the current market leader Shree Cement. According to sector analysts...
Shree Cement plans to close United Cement deal by July
Shree Cement Ltd, one of India’s top three cement makers, has budgeted for a capital expenditure of ₹3,500 crore in the current financial year, which includes ₹2,000 crore to be spent to conclude the acquisition of a...
IBC Ordinance: Dalmia may appeal to NCLT or courts, citing govt’s stand
The Insolvency and Bankruptcy Code (IBC) Amendment Ordinance, promulgated on Wednesday, bans late bids in order to resolve the impasse in cases such as Binani Cement, where UltraTech Cement and Dalmia Bharat are...
Insolvency: NCLT verdict on UltraTech Cement proposal likely by July 10
The Kolkata bench of the National Company Law Tribunal (NCLT) is expected to pass its verdict on UltraTech Cement’s plan before July 10 for acquiring the stressed assets of Binani Cement just before the “daily hearing...
Insolvency: UltraTech keeps options open for Binani Cement takeover
UltraTech Cement is keeping its options open regarding Binani Cement’s stressed assets, on other than the legal insolvency process. This is despite it becoming the new H1 bidder under the law’s framework, replacing the...
Insolvency: Binani Cement submits UltraTech plan for NCLT approval
After the resolution professional (RP) of Binani Cement submitted the resolution plan of UltraTech Cement’s Rs 79.60 billion offer for approval from the Kolkata bench of the NCLT on Friday, Dalmia Bharat Cement also...
Orient Cement calls off Rs 2,000 cr deal to acquire 2 units from Jaypee
In a setback to crisis-hit JaypeeNSE 0.00 % group, the CK Birla Group firm Orient Cement has terminated its Rs 1,946-crore deal to acquire Jaiprakash Associates Ltd’s (JAL) two firms — Bhilai Jaypee Cement...
