ACC sells 50 per cent stake in Everest, India

ACC sells 50 per cent stake in Everest, India
Published: 27 February 2006

The Associated Cement Companies Limited has informed the exchange that they have sold 74,00,020 shares aggregating to 50% of the total paid up capital of Everest Industries Limited on February 22, 2006. The mode of sale is the shares have been transferred on February 22, 2006 to Everest Finvest (I) Pvt. Ltd., pursuant to the share purchase agreement, dated October 14, 2005, after completion of open offer requirements and the shareholding of the ACC after the said sale is 27,01,980 shares aggregating to 18.26% of the total share capital of Everest Industries Limited.