Displaying items by tag: Emirates Cement Bangladesh

Bangladesh: HeidelbergCement Bangladesh plans to amalgamate its subsidiary Emirates Cement. The Daily Star newspaper has reported that fellow HeidelbergCement Bangladesh subsidiary Emirates Power Company will also be merged as part of the reorganisation.

The subsidiary of Germany-based Heidelberg Cement acquired Emirates Cement Bangladesh and Emirates Power for around US$21.5m in 2019. Emirates Cement Bangladesh operates a plant at Munshiganj with a production capacity of 0.66Mt/yr.

Bangladesh: HeidelbergCement Bangladesh has announced the completion of its acquisition of Emirates Cement and Emirates Power from UltraTech Cement Middle East Investment. Financial Express has reported the value of the deal as US$21.5m.

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.