Mysore Cements’ Indian, overseas partners end pact

Mysore Cements’ Indian, overseas partners end pact
Published: 09 July 2008

Mysore Cements Ltd said on Monday the agreement between its Indian joint venture partners and its overseas holders has been terminated on July 3.

Its Indian joint venture parnters, represented by Birla Eastern Ltd, and Germany’s HeidelbergCement Group represented by Cementrum I. BV, have terminated the agreement, it said in a statement.

Its Indian shareholders, who hold about 4.33 percent in Mysore Cements, would cease to be part of the promoter group and only Cementrum which holds 54.89 per cent in it would be regarded as the sole promoter, it said.

Mysore Cements is a subsidiary of Cementrum, incorporated in the Netherlands and totally controlled by Heidelberg Cement