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Shree Cement to acquire majority stake in Union Cement Company

12 Jan 2018 Evaluate

Shree Cement has received an approval for acquisition of a majority equity stake (minimum 92.83%) in Union Cement Company (P.S.C.) (UCC), a company based in the UAE, for an Enterprise Value of $305.24 million excluding Cash and Cash Equivalent (for a 100% equity stake) subject to closing adjustments. The board of directors at its meeting held on January 11, 2018 has approved the same. The company has also signed the Definitive Agreement in this regard with the sellers.

With this acquisition, the aggregate cement capacity of Shree Cement will increase from present 29.3 MTPA to 33.3 MTPA. The proposed acquisition will help Shree Cement create its first footprint outside India. UAE is one of the major economies in the Middle East which has good long-term prospects in the housing, construction and infrastructure segment.

Baker Tilly DHC, Standard Chartered Bank and Freshfields Bruckhaus Deringer acted as advisers to Shree Cement on the proposed acquisition.

Shree Cement is a rapidly growing Company focused on its core business of Cement & Power. Currently, its manufacturing operations are spread over North and Eastern India across six states.


Shree Cement Share Price

25301.95 198.70 (0.79%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Ultratech Cement 11887.30
Ambuja Cement 458.95
ACC 1431.85
Shree Cement 25301.95
Dalmia Bharat 1972.55
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