India: ACC has sold its 12.1% in Shiva Cement to JSW Cement for US$5.8m. Following the sale JSW Cement now holds the entire promoter holding in Shiva Cement, according to the Mint newspaper. In January 2017 JSW Cement announced that it was making an open offer to buy out Shiva Cement. Shiva Cement operates a 0.2Mt/yr cement plant in Rourkela, Odisha.
Shiva Cement buys ACC’s stake in JSW Cement
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