UltraTech Cement Middle East Investments

HeidelbergCement Bangladesh Ltd acquired Emirates Cement Bangladesh Limited and Emirates Power Company Limited from UltraTech Cement Middle East Investments Ltd for Tk182.58 crore. The acquisition was announced on 11 February 2021, with an agreement signed on 13 November 2019.

HeidelbergCement Bangladesh completed the acquisition of 100% of the shareholding of Emirates Cement Bangladesh Ltd and Emirates Power Co Ltd from UltraTech Cement Middle East Investments Ltd on December 5, 2019. The consideration was approximately US$21.518 million.

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.

Heidelberg Cement Bangladesh's board approved the acquisition of 100% of Emirates Cement Bangladesh and Emirates Power Co from UltraTech Cement Middle East Investments for $21.518 million.