HeidelbergCement Bangladesh to acquire Meghna Energy

The Board of Directors of the HeidelbergCement Bangladesh Ltd has approved the draft scheme of amalgamation of the Meghna Energy Ltd with the HeidelbergCement Bangladesh Ltd subject to sanction by the High Court Division of the Supreme Court of Bangladesh and approval of the same by the members of the Company and Meghna Energy Ltd.

HeidelbergCement Bangladesh Ltd will acquire 4,056,457 shares (99.99 per cent) in Meghna Energy at an estimated consideration of BDT910m (US$10.77m). Out of which, BDT860m has already been remitted by the company.

Based in Dhaka, Bangladesh, Meghna Energy owns a total of four gas-fired power plants. Meghna Energy Ltd operates as a subsidiary of HeidelbergCement AG.