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Sagar Cements to sell entire stake in Vicat Sagar Cement for Rs 435 crore

16 Jul 2014 Evaluate

Sagar Cements (SCL), one of the most efficient cement manufacturers in the country, has received an approval for sale of its entire stake of 6,52,36,399 equity shares held in its Joint Venture, Vicat Sagar Cement for a total consideration of Rs 435 crore (Rs 66.68 per equity share) to Parficim S.A.S., France, an affiliate of Vicat S.A., France.

The board of directors at its meeting held on July 15, 2014 has approved for the same. This approval is subject to further approval of shareholders of SCL and other approvals, if any, from the regulatory authorities concerned. This transaction is also the result of a strategic decision taken by both entities to enable each one focus on its own strengths and capabilities to create value and drive growth.

Sagar Cements and The Vicat Group had entered into this joint venture in June 2008, with the objective of setting up a 5.5 million tonne plant in Gulbarga, Karnataka. The first phase of this facility, capable of producing 2.75 million tonnes was completed in December 2012 with the commencement of production in January 2013. Sagar’s Contribution for first phase was Rs 86 crore for its 47% stake in the Joint Venture.   

Sagar Cements Share Price

185.05 2.95 (1.62%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Ultratech Cement 11887.30
Ambuja Cement 458.95
ACC 1431.85
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Dalmia Bharat 1972.55
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