# Shree Cement to buy 93% stake in Union Cement for $305 million

Shree Cement has agreed to acquire a 92.83% stake in UAE-based Union Cement for an enterprise value of $305.24 million. The deal is Shree Cement's first venture outside India and its largest acquisition ever.

- Type: Acquisition
- Announced: 2018-01-11
- Where: Ras Al-Khaimah, United Arab Emirates
- Value: $305.2M
- Status: announced
- Capacity: 4 million tonnes per year
- Products: cement, clinker
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Shree Cement](https://endata.com/companies/21210.md) (acquirer)
- [Union Cement](https://endata.com/companies/29347.md) (target)
- [Union Cement Co PSC](https://endata.com/companies/29359.md) (target)

## Sources

- [livemint.com](https://www.livemint.com/Companies/2Bw2GleTzHflT4kIFuLxkO/Shree-Cement-to-buy-93-stake-in-UAEbased-Union-Cement-for.html), 2018-01-11: "Shree Cement Ltd on Thursday said it had agreed to acquire a 92.83% stake in Union Cement Co. PSC, a United Arab Emirates-based firm, for an enterprise value of $305.24 million."
- [cemnet.com](https://www.cemnet.com/News/story/163223/shree-cement-to-acquire-93-stake-in-union-cement.html), 2018-01-12: "Shree Cement Ltd announced on Thursday that it had agreed to acquire a 92.83 per cent stake in Union Cement Co PSC, for an enterprise value of US$305.24m."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.