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Dalmia Cement acquires Adhunik Cement for consideration of Rs 560 crore

28 Sep 2012 Evaluate

Dalmia Bharat Enterprises’ subsidiary - Dalmia Cement Bharat has signed definitive agreement for acquisition of Adhunik Cement, for a total consideration of Rs 560 crore. The acquisition and consideration shall be made in multiple tranches, which would be subject to the adjustments and various other terms and conditions set out in the definitive agreements.

Adhunik Cement is a Joint Venture (JV) between Adhunik Group and MSP Group, both based out of Kolkata. The company had invested Rs 700 crore for setting up a cement plant in limestone-rich Jaintia Hills of Meghalaya. The plant has a capacity of producing 1.5 Mn tonne cement annually. It has also set up a 25MW coal-based captive power plant for uninterrupted power supply to its plant.

Dalmia Bharat Enterprise is a cement manufacturer with plants in Tamil Nadu and Andhra Pradesh with a capacity of nine million tonnes per annum. The company is engaged in the business of cement, thermal power & other businesses.

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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