Cimpor buys 20 per cent of Shree Digvijay, India

Cimpor buys 20 per cent of Shree Digvijay, India
Published: 12 March 2008

Cimpor has announced its tender offer for 20 per cent of Shree Digvijay Cement Company Limited was successful, resulting in Cimpor acquiring around 28.2m shares in the Indian company for about EUR19.3m.  
 
In a statement, Cimpor said the result of the tender offer means it can now complete the acquisition of 53.64 per cent of the Gujurat-based Shree Digvijay, announced in December, thus hiking its stake in the company to 73.6 per cent.   
 
In December, Cimpor said Shree Dijvijay has an annual cement production capacity of 1.07Mt, indicating Cimpor will pay EUR110/t of capacity.