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Sagar Cements to sell 47% stake in Vicat Sagar Cement

07 Jul 2014 Evaluate

Sagar Cements is set to sell its 47 per cent stake in the joint venture Vicat Sagar Cement to the Vicat Group. In this regard, the company’s board will consider the sale of its investment in the plant located at Chatrasal, Gulbarga district of Karnataka, at a board meeting on July 15.

Meanwhile, France-based Vicat is willing to acquire the stake to make it a completely-owned entity. Moreover, the company is hoping to complete the entire transaction by September.

Sagar cements had invested Rs 86 crore in the first phase of the plant with 2.75 million tonnes capacity. Commercial production commenced in January last year.

 

Sagar Cements Share Price

185.05 2.95 (1.62%)
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