# UltraTech Cement takes over 3B Binani Glassfibre

UltraTech Cement, through its subsidiary, took over 3B Binani Glassfibre Sarl Luxembourg by revoking pledged shares from Bank of Baroda London, gaining control of the fiberglass subsidiary.

- Type: Acquisition
- Announced: 2021-03-13
- Where: Luxembourg
- Status: completed
- Products: fiberglass
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Ultratech Cement](https://endata.com/companies/16256.md) (acquirer)
- [3B Binani Glassfibre](https://endata.com/companies/53810.md) (target)
- [Binani Industries](https://endata.com/companies/53811.md) (target)

## Sources

- [thehindubusinessline.com](https://www.thehindubusinessline.com/companies/ultratech-cement-takes-over-3b-binani-glassfibre/article34062077.ece), 2021-03-13: "The shares of 3B had already been written off in the books of Binani Industries and stands at ₹78 crore as on the last Audited Balance Sheet as on March 31, 2020."

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