Dalmia plans merger of listed cement units

 Dalmia plans merger of listed cement units
27 August 2014

India-based Dalmia Group is considering merging its two listed cement units, OCL India and Dalmia Bharat, according to local press reports citing sources with knowledge in the matter.

Following the merger, the swap ratio wil favour shareholders of OCL India, reports India Investment News. As part of the restructuring process, Dalmia Bharat also aims to merge its unlisted subsidiary Dalmia Bharat Enterprises into itself.

Private equity firm Kohlberg Kravis Roberts owns a 14.5 per cent stake in Dalmia Bharat Enterprises. It will eventually own a small stake in the merged entity, one source said.

Dalmia Bharat currently owns 48 per cent in OCL India and has a consolidated cement capacity of about 20Mta.

Published under Cement News