UltraTech Cement acquires Binani Cement

UltraTech Cement, an Aditya Birla Group company, has acquired Binani Cement through an insolvency-driven process. The deal includes global assets such as a fibreglass company (3B) with plants in Europe and Goa, a 3 mtpa cement JV in China, and a 2.5 mtpa grinding unit in the UAE.

“UltraTech Cement, an Aditya Birla Group company, will have to be mindful of country specific regulations and seek consent of joint venture partners as it looks to sell the associated global assets it inherited with the recent acquisition of Binani Cement in an insolvency-driven process.”thehindubusinessline.com

• 1 source
• thehindubusinessline.comUltraTech’s task now is to sell Binani’s assets - The HinduBusinessLineSuresh P IyengarMay 2, 2019

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