Dalmia Bharat to buy Adhunik Cement for INR5.60bn

Dalmia Bharat Enterprises Ltd said Friday it has signed an agreement to acquire Adhunik Group's cement unit for about INR5.60bn (US$106.3m).

Under the deal, Dalmia Cement Bharat Ltd. will acquire Adhunik Cement Ltd., the company said in a regulatory filing.

Adhunik Cement sells cement under the Adhunik MSP brand and has a manufacturing facility with a capacity of 1.5Mta in the Jaintia Hills of Meghalaya, a northeastern state in India, according the Adhunik Group website.

Steel maker Adhunik Metaliks Ltd is the flagship company of the energy and metals group.