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News Binding agreement for UltraTech and HeidelbergCement in Bangladeshi asset sale

Binding agreement for UltraTech and HeidelbergCement in Bangladeshi asset sale

Written by Global Cement staff 13 November 2019
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Bangladesh: UltraTech Cement Middle East Investments (UCMEI) has announced that it has entered into a binding agreement by which it will sell its entire shareholding in Emirates Cement Bangladesh and Emirates Power Company to HeidelbergCement Bangladesh.

Under the terms of the agreement, UCMEI will divest its entire shareholding at an enterprise value of US$29.5m. The deal is subject to regulatory approvals in compliance with the laws of Bangladesh.

Published in Global Cement News
Tagged under
  • Bangladesh
  • India
  • UltraTech Cement Middle East Investments
  • Divestments
  • HeidelbergCement
  • Emirates Cement Bangladesh
  • Emirates Power
  • Acquisition

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