Madras Cements to divest grinding unit

Madras Cements to divest grinding unit
12 July 2011

Madras Cements, the flagship enterprise of Chennai-based Ramco Group, is holding talks with Lafarge and Holcim to divest its cement grinding unit in West Bengal for roughly INR350 crore, said sources.

PE giant KKR-backed Dalmia Cements had showed early interest but has since dropped out of any possible deal now. 

"We have been approached by a number of cement manufacturers to sell the grinding unit. At present we are only exploring the offers made by these people. No decision has been taken as yet," Ramco Group vice-chairman P R Venketrama Raja told local press.
Published under Cement News