Mysore Cement has a cement capacity of 2 million tonnes per annum tpa and operations in Karnataka, Madhya Pradesh and Uttar Pradesh. It has been an attractive target for some time as the current owners have not been able to make the operations profitable.
The acquisition will be effected through a fresh infusion of capital into Mysore Cement to acquire a 41.7% stake, as well as a selldown by the Indian owners, the SKBirla group. The latter sale will provide the balance required for Heidelberg to gain...
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