# UltraTech Cement offers to acquire 31.6% stake in RAK Cement Co

UltraTech Cement, through its subsidiary UltraTech Cement Middle East Investments Ltd, made a partial conditional cash offer to acquire a 31.6% stake in UAE-based RAK Cement Co for White Cement and Construction Materials PSC. The offer period runs from May 28 to June 24, 2024.

- Type: Acquisition
- Announced: 2024-05-27
- Where: UAE, United Arab Emirates
- Status: announced
- Products: white cement, construction materials
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Ultratech Cement](https://endata.com/companies/16256.md) (acquirer)
- [UltraTech Cement Middle East Investments](https://endata.com/companies/43267.md) (acquirer)
- [RAK Cement Co for White Cement and Construction Materials PSC](https://endata.com/companies/77671.md) (target)
- [Ras al Khaimah Co for White Cement and Construction Materials PSC](https://endata.com/companies/77686.md) (target)

## Sources

- [business-standard.com](https://www.business-standard.com/companies/news/ultratech-cement-offers-to-acquire-31-6-in-uae-based-rak-cement-co-124052701431_1.html), 2024-05-27: "UCMEIL has notified its intention of making a partial conditional cash offer for acquiring 158,049,610 shares, representing 31.6 per cent of the issued and paid-up share capital of RAKWCT."
- [cemnet.com](https://www.cemnet.com/News/story/177083/ultratech-cement-announces-plans-to-acquire-31-6-stake-in-rak-cement.html), 2024-05-28: "UltraTech plans to use its vast experience in the production of white cement to strengthen RAKWCT’s presence locally, regionally and globally through this move."
- [worldconstructionnetwork.com](https://www.worldconstructionnetwork.com/news/ultratech-cement-stake-rakwct/), 2024-05-28: "UCMEIL aims to leverage its expertise in white cement manufacturing to enhance RAKWCT's business operations both locally and internationally."

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