Cement News tagged under: ABG Cement
KKR backs SIMEC to invest in ABG Cement, India01 July 2015, Published under Cement NewsPrivate equity firm KKR is teaming up with diversified trading and commodities group SIMEC to invest INR9bn (US$141.5m) to take over the cement business of debt-laden ABG Group. The funding will help complete the delayed 5.8Mta cement project in Gujarat, multiple sources have told the Economic Times of India. The deal will be undertaken through a multi-tiered financial transaction. The first part of the transaction, to be concluded in the coming weeks, will see KKR fund SIMEC to pick up a ... |
UltraTech Cement in talks to buy ABG Cement plant, India05 February 2013, Published under Cement NewsIndia’s largest cement producer, UltraTech Cement, is in talks to purchase an incomplete 6.7Mta cement plant in Gujarat owned by the ABG Cement group, the Economic Times of India reports. “Executives of both UltraTech Cement and ABG had three rounds of negotiations,” a source told the local daily. According to the report, Axis Capital, the investment banking arm of Axis Bank, is advising UltraTech. “We had some discussions in the past," a senior ABG official said. "The company is ke... |
ABG set to bring new cement ventures on-stream, India18 January 2013, Published under Cement NewsThe ABG Group of India is set to start production from its new cement ventures this quarter. Under ABG Cement Ltd, the company is constructing a 3Mta clinker unit in the village of Thumdi in Kutch and a 5.8Mta grinding works in the village of Mora, Surat, Gujarat state. The clinker plant is expected to go on-stream in February while the grinding unit may commence operations in the following month. These two projects mark the ABG Group’s first foray into the cement sector. The compan... |
ABG looks to sell minority stake in cement unit, India08 January 2013, Published under Cement NewsIndia-based private sector ship builder ABG Group, is in talks to offload a minority stake in its cement business, a senior executive has told the Times of India. The cement business, which operates under ABG Cement, has a 6.5Mta cement plant in Kutch, Gujarat, which is expected to be commissioned in a few weeks. Dhananjay L Datar, director of ABG Group, said the potential deal is at a preliminary stage with several parties showing an interest in the unit. Sources familiar with the... |
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