News:
ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts:
Retail Plus |
Classifieds |
Jobs |
Obituary |
Business
Grasim to divest stake in Digvijay
Special Correspondent
|
Sale consideration is Rs. 322 crore
|
MUMBAI: Grasim Industries, belonging to the Aditya Birla Group, has announced the sale of its entire equity stake in Shree Digvijay Cement Company (SDCC) to Cimpor – Cimentos De Portugal, SGPS, SA, through its subsidiary, Cimpor Inversiones, SA, for a consideration of Rs. 322 crore.
According to a company statement, Grasim holds 7.58 crore equity shares of Rs. 10 each in SDCC, aggregating 53.63 per cent of SDCC’s equity capital. This stake will be transferred to Cimpor Inversiones on receipt of all requisite approvals and receipt of consideration by Grasim. The transaction is expected to be completed by March 2008.
SDCC has a capacity of 1.07 million tonnes per annum (tpa).
The decision to divest its equity in SDCC is primarily intended to rationalise its portfolio of plants.
Printer friendly
page
Send this article to Friends by
E-Mail
Business
News:
ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts:
Retail Plus |
Classifieds |
Jobs |
Obituary |
Updates:
Breaking News |
|
