Cement News tagged under: Vicat Sagar Cement
Sagar Cement completes sale of joint-venture stake08 September 2014, Published under Cement NewsSagar Cements has completed the sale of its stake in Vicat Sagar Cement, therefore formalising its exit from the joint-venture company. In mid-July an agreement had been reached whereby Sagar Cements would sell its entire 47 per cent stake in the collaboration to Vicat for INR66.86/share (US$1.1). The company had earlier obtained approval from shareholders through postal ballot for the sale of the investment held in Vicat Sagar Cement. The joint venture was set up in 2008 and the 2.75Mt... |
Vicat03 September 2014, Published under Cement NewsVicat's first-half turnover increased by 6.1 per cent to EUR1217.8m, which amounts to a 10.8 per cent advance on a comparative basis. EBITDA was ahead by 3.1 per cent to EUR207.7m and the margin narrowed from 17.5 per cent to 17.1 per cent. The trading profit, however, improved by 9.4 per cent to EUR115.2m, an underlying increase of 15.8 per cent. After a net financial charge 38.2 per cent higher at EUR29.7m and a 20 per cent decline in the income from associates to EUR1.7m, the pretax profi... |
Sagar in talks to buy BMM Cements, India14 August 2014, Published under Cement NewsSagar Cement is in talks to buy BMM Cements as it plans to use the proceeds from the sale of its stake in the Vicat Sagar joint venture to fund growth organically and through M&A activity. BMM Cements operates a 1Mta integrated cement works along with a 25MW captive power plant near the Tadipatri in Anantapur district of Andhra Pradesh. Sources told the Economic Times of India that a team of Sagar Cements has already inspected BMM’s manufacturing and limestone assets and the legal and t... |
Vicat to take full control of Indian joint venture16 July 2014, Published under Cement NewsVicat is to take 100 per cent control of Vicat Sagar Cements after agreeing to buy out Sagar Cements from the joint venture company. An agreement has been reached whereby Sagar Cements will sell its entire 47 per cent stake in the collaboration for INR66.68 per share (US$1.1). The company said it would use a part of the money to purchase some capital equipment for its Matampally plant, while the remaining amount would help fund organic and inorganic growth in south India. Vicat Sagar ... |
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