JK Lakshmi Cement, a Delhi-based cement manufacturer and the flagship company of Hari Shankar Singhania Group, is in talks with an undisclosed Egyptian cement firm for acquisition. Local press report that the deal, which is believed to be of around INR800 crore, is expected to be closed by the end of this calendar year. The target company has a capacity of 2Mta. The acquisition, if materialises, will help JK Lakshmi tap the growing Middle East market.
Source: India Infoline.com