Shree Cement’s wholly owned subsidiary – Shree Global FZ situated in UAE has agreed to acquire remaining 40% stake in Union Cement Norcem Co situated in UAE (UCN). The transaction value of the same would be Emirati Dirham 14.50 million (around Rs 30 crore). The said acquisition is likely to be consummated by June 30, 2022. The company’s step- down subsidiary -- Union Cement Company PrJSC, presently holds 60% equity capital of UCN.
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.
