ACC has sold its entire shareholding comprising 2,36,50,000 equity shares of Rs 2 Face Value representing 12.13% of the equity share capital in Shiva Cement at a total consideration of Rs 38.66 crore. The company has sold the shares on March 9, 2017, at Rs 16.35 per equity share to JSW Cements.
The sale is an off market transaction pursuant to a Share Purchase Agreement dated February 15, 2017 entered into between the company and JSW Cement.
ACC is India’s foremost manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.
