Shree Cement Ltd has agreed to acquire a 92.83% stake in Union Cement Co. PSC, a United Arab Emirates-based firm, for an enterprise value of $305.24 million (Rs.1,945 cr.). Union Cement has an annual production capacity of four million tonnes and operations in the Emirate of Ras Al-Khaimah.
Shree Cement to buy 93% stake in UAE-based Union Cement for $305 million
Date posted: Friday 12 January 2018