heidelberg-cements-presence-in-india

Heidelberg cements presence in India

Heidelberg is the third European cement major to choose the M&A route in India by acquiring a controlling stake in Mysore Cement - its second Indian cement company purchase this year.
Heidelberg announced WednesdayJuly 19 that it will consolidate its presence in India through the acquisition of a 51% stake in Mysore Cement for about $100 million.

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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