Emami Group to sell cement business to Nirma Group company Nuvoco Vistas at enterprise value of Rs 5,500 cr
Emami Group on Thursday said it has entered into a binding agreement with Nuvoco Vistas Corporation Limited, part of Nirma Group, to sell 100 percent equity in Emami Cement Limited at an enterprise valuation of Rs 5,500 crore
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UltraTech to incorporate Binani Cement as subsidiary; acquisition gives firm access to top quality limestone reserves
UltraTech Cement said on Wednesday its board has approved a proposal to incorporate Binani Cement as it a wholly-owned subsidiary.
Ultratech gets Competition Commission of India's nod to acquire cement business of Century Textiles and Industries
UltraTech had said it would acquire the cement business of BK Birla Group company Century Textiles and Industries through a share swap deal
In August 2016, CCI had slapped approximately Rs 6,700 crore penalty on 11 cement firms including UltraTech, ACC, Ambuja, Ramco and JK Cement as well as the industry body Cement Manufacturers Association (CMA) for indulging in cartelisation.
Birla said rising oil prices, spiralling inflation, firming bond yields and a widening current account deficit are areas of concern
Aditya Birla Group firm UltraTech said it would acquire cement business of BK Birla Group company Century Textiles and Industries through a share swap deal
Binani Cement insolvency: NCLT asks CoC to consider UltraTech's revised offer; Dalmia 'surprised' by order
The NCLT bench also asked the CoC to reconsider resolution plan of Rajputana Properties Pvt Ltd (RRPL), if the Dalmia Bharat Group firm, was willing to raise its offer more than UltraTech's bid.
UltraTech questions resolution process, terms process of evaluating bids for Binani Cement 'fraudulent'
UltraTech apprehends that it was not declared as the H1 bidder in view of the penalty imposed by the Competition Commission of India.
NCLT asked the CoC whether it could consider application filed by Binani Industries, the parent company of Binani Cement, for a settlement outside tribunal
UltraTech said it had secured backing from some creditors of Binani Cement to buy firm for $1.1 billion outside of a bankruptcy process
Rakesh Jhunjhunwala, Radhakishan Damani battle it out with big industry players to bid for Binani Cement
The banks had claimed Rs 3,884 crore unpaid loans due on Binani Cement that included borrowings from the SBI, Canara Bank and Bank of Baroda.
Jaypee Group on Monday hiked the sale value of 21.2 million tonne per annum (MTPA) cement assets to Aditya Birla Group firm Ultratech to Rs 16,189 crore.
ITC Ltd, India's largest cigarette maker, is in talks with Century Textile and Industries Ltd to buy its paper division in a bid to diversify revenue to non-tobacco businesses, said two sources directly involved in the deal.
The acquisition comprises of an integrated cement unit at Sewagram and a grinding unit at Wanakbori in Gujarat. The combined capacity of both the divisions of the Gujarat unit is 4.8 mtpa with a 57.5 MW coal-based thermal power plant, limestone reserves for over 90 years at current capacity and a captive jetty at Sewagram.<br /><br />
US stocks closed higher on Wednesday, with the S&P 500 up for a seventh straight day, as geopolitical fears eased amid diplomatic efforts to allow Syria to surrender its chemical weapons, averting a US military strike.
The sharp falls in shares of the two companies sparked reminders of a flurry of erroneous orders for a broad basket of shares placed by Emkay Global that sent the stock market tumbling in October.
OMPAT issued notice to CCI today regarding pleas from the alleged cartel makers and fixed the hearing on 11th October.