Cement News tagged under: Emami Cement
Emami Cement sale is completed by Nuvoco Corp15 July 2020, Published under Cement NewsEmami 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. |
CCI approves acquisition of Emami Cement22 May 2020, Published under Cement NewsThe Competition Commission of India has approved the 100 per cent acquisition of the total issued and paid-up share capital of Emami Cement Ltd by Nuvoco Vistas Corp. Emami had entered into an agreement for the divestment of its 100 per cent equity stake in Emami Cement for an enterprise value of INR55bn (US$724.83m) in February. The acquisition will bring Nuvoco's total cement capacity in India to 23.5Mta, including an ongoing capacity expansion project in Jojobera, Jharkhand, and over ... |
Emami Group agrees to sell cement unit to Nuvoco Vistas07 February 2020, Published under Cement NewsIndia’s Emami Group has announced the sale of its 8.3Mta cement business to Nuvoco Vistas (Nirma Group), with the move valued at INR55bn (US$770.56m). "We are very proud of Emami Cement’s achievements in a short span of time and we strongly believe that in Nuvoco, we have found the right acquirer who will be able to develop the business further in the interest of all the stakeholders," said Manish Goenka, director of Emami Group. Emami Cement operates an integrated cement plant and three g... |
HeidelbergCement28 October 2019, Published under Cement NewsHeidelbergCement’s North American subsidiary, Lehigh Hanson Inc, has entered into an agreement with Giant Cement to acquire its Keystone cement plant in Bath, Pennsylvania. The 1.1Mta plant supplies the Pennsylvania, New Jersey and New York markets with bulk and bagged products. “With its modernised kiln, healthy customer base and large limestone reserves, the Keystone cement plant is an excellent strategic fit for HeidelbergCement in North America and an important step in strengthening our ... |
Blackstone enters race for Emami Cement16 October 2019, Published under Cement NewsBlackstone Group Inc (KKR & Co) are reported to be contemplating a bid for Indian conglomerate Emami Group and Emami Cement Ltd. Bloomberg reports that TPG Capital is also considering a bid for Emami Cement Ltd and may seek a partner for the project. Emami Group has picked Arpwood Capital Ltd and Credit Suisse Group AG to supervise the sale of the cement unit, seeking a valuation of about US$1bn. The company operates three cement manufacturing plants in India and is setting up another one... |
Dalmia Cement reportedly considers acquiring Emami Cement assets12 September 2019, Published under Cement NewsIndia’s Dalmia Cement (Bharat) has reportedly submitted an expression of interest in acquiring the cement assets of Emami Group, which have been valued at INR60bn (US$841.9m), according to The Economic Times. "Dalmia Bharat is currently studying the financials provided by the bankers of Emami Cement. The strategy will be decided once we conclude our assessment and firm up our intent to proceed. Moreover, we have a healthy leverage but would always keep all options open," said the company i... |
Emami Cement receives approval for IPO23 May 2019, Published under Cement NewsEmami Cement Ltd has received approval from the Securities and Exchange Board of India for an IPO, which could raise INR10bn (US$143.56m), according to the Business Standard. The IPO would consist of the fresh issuance of shares worth INR5bn and the rest offered for sale from existing promoters. "We have received Securities and Exchange Board of India approval on 15 May, and we will now finalise a roadmap in consultation with the merchant bankers," said a company source. |
Emami Group to demerge solar assets from cement company20 December 2018, Published under Cement NewsIndia’s Emami Group has received National Company Law Tribunal (NCLT) approval to demerge its solar power assets from its cement company. The assets will be consolidated under Emami Power, which will allow Emami Cement to focus solely on its core business. "Proposed demerger is being undertaken with a view to consolidate the power production business in Emami Power while allowing our company to focus on its cement manufacturing operations," stated Emami Cement in July, before approval was r... |
Emami Cement improves power supply03 December 2018, Published under Cement NewsEmami Cement Ltd at Kalinga Nagar Industrial Area in the Indian state of Odisha has improved its power supply following its connection to the inter-state 400/220kV New Duburi grid of Odisha Power Transmission Corp Ltd. Emami was permitted to receive 15MVA power in 132kV from the power transmission company. However, taking its future expansion into account, the cement producer applied for 15MVA power in 220kV. AK Das Associates Ltd successfully completed the 220kV line along with substa... |
Emami Cement files IPO prospectus15 October 2018, Published under Cement NewsEmami Cement has filed a prospectus with market regulator Sebi to raise up to INR10bn through an IPO, according to a document on issue manager manager Axis Capital’s website. "The Initial Public Offering of equity shares of face value INR10 each of Emami Cement Ltd for cash. The offer comprises of a fresh issue of equity shares aggregating up to INR500cr and an offer for sale (OFS) of equity shares aggregating up to INR500cr," it states. The IPO will include shares offered by founders gr... |