India Cements becomes subsidiary of UltraTech

UltraTech Cement has acquired a 55.5% stake in India Cements, making it a subsidiary. The acquisition adds 14.5 million tonnes of production capacity to UltraTech's portfolio. The deal, totaling Rs 3,954 crore, received approval from the Competition Commission of India, amidst India Cements' recent financial challenges.

from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/87U5JYh