Emami Cement sale is completed by Nuvoco Corp

Emami Ltd said on Tuesday that the group has completed sale of Emami Cement to Nuvoco Corp Ltd for an enterprise value of INR55bn (US$724.83m).

“The deal was completed with the transfer of 100 per cent shares of Emami Cement shares to Nuvoco Corporation Ltd (NVCL) by Emami Group today,” it said in a stock market notification.

Emami Cement has a production capacity of 6.8Mta as well as a 2.5Mta plant under construction in Kalinganagar, India.