Dalmia Bharat Enterprises’ subsidiary - Dalmia Cement (Bharat), has approved acquisition of additional 26% fully diluted stake in Calcom Cement India at a consideration of Rs 77.16 crore upon signing of a share purchase agreement on November 30, 2012.
This consideration shall be paid in multiple tranches, subject to the adjustments and other terms and conditions set out in the definitive agreements. This stake is in addition to the 50% stake taken by the subsidiary in January 2012.
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.
