# UltraTech Cement to divest Bangladesh units to HeidelbergCement

UltraTech Cement Middle East Investments Limited (UCMEIL) has entered into a binding agreement to divest its entire shareholding in ECBL and EPCL to HeidelbergCement Bangladesh Ltd for an enterprise value of US$29.5 million.

- Type: Acquisition
- Announced: 2019-11-13
- Where: Bangladesh
- Value: $29.5M
- Status: announced
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [UltraTech Cement Middle East Investments](https://endata.com/companies/43267.md)
- [Emirates Cement Bangladesh](https://endata.com/companies/43265.md) (target)
- [Emirates Power Co](https://endata.com/companies/43266.md) (target)
- [UltraTech Cement Middle East Investments](https://endata.com/companies/43267.md) (partner)
- [HeidelbergCement Bangladesh Ltd](https://endata.com/companies/43271.md) (acquirer)

## Sources

- [worldcement.com](https://www.worldcement.com/asia-pacific-rim/13112019/ultratech-to-divest-its-share-in-bangladesh-based-units-to-heidelbergcement/), 2019-11-13: "UCMEIL will divest its entire shareholding at an enterprise value of BDT equivalent of US$29.5 million."
- [cemnet.com](https://www.cemnet.com/News/story/167905/heidelbergcement-completed-bangladesh-acquisition.html), 2019-12-09: "HeidelbergCement Bangladesh has informed Dhaka Stock Exchange that it completed the acquisition of 100 per cent of the shareholding of Emirates Cement Bangladesh Ltd and Emirates Power Co Ltd."

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