Ultratech Cement Ltd.

UltraTech Cement is planning to sell its entire stake in Bangladesh- based Emirates Cement Bangladesh (ECBL) and Emirates Power Company (EPCL) to Germany's HeidelbergCement for an enterprise value of $29.5 million (about Rs 211.48 crore). UltraTech Cement Middle East Investments (UCMEIL), UltraTech's UAE-based wholly-owned subsidiary, has entered into a 'binding agreement with HeidelbergCement Bangladesh for divesting its entire shareholding in ECBL and EPCL.

In terms of the agreement, UCMEIL will divest its entire shareholding at an enterprise value of BDT equivalent of $29.5 million subject to obtaining necessary regulatory approvals in compliance with the laws of Bangladesh.

UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India. It is also one of the leading cement producers globally. UltraTech as a brand embodies strength, reliability and innovation.