Shriram Cement confirms talks on cement unit sale

India-based producer Shriram Cement has confirmed that it is in talks with investors over the sale of its cement business.

The statement came following news reports that CRH is to buy Shriram's cement unit through its Indian joint venture, My Home Industries.

Shriram said it is in discussions with a couple of potential investors, including CRH, but that no decision has been finalised to-date.