Dalmia Bharat to take full control of cement subsidiary

Dalmia Bharat has received approval from the Competition Commission of India to acquire a 15 per cent stake in its subsidiary Dalmia Cement Bharat from private equity firm KKR.

Post-acquisition, Dalmia Cement Bharat Ltd (DCBL) will become a wholly-owned subsidiary of Dalmia Bharat Ltd (DBL).

“Dalmia Bharat Ltd (DBL) signed a definitive agreement with KKR, under which it will acquire KKR's 15 per cent stake in DCBL in return of KKR getting 8.5 per cent stake in DBL as well as INR6bn [US$89.1m] in cash," Dalmia Bharat Group MD, Punit Dalmia, had said in January.