KKR Mauritius Cement Investments Ltd has acquired 8.5 per cent stake in Dalmia Bharat Ltd. The development soon follows Dalmia Bharat getting fair trade regulator CCI’s approval to acquire 15 per cent stake in its subsidiary Dalmia Cement Bharat from private equity giant KKR for over Rs 1,218 crore in a cash and stock deal.

In a filing to the BSE, Dalmia Bharat said KKR Mauritius Cements Investments acquired 8.4503 per cent stake, or 75,00,000 shares of Dalmia Bharat through preferential allotment on March 9. Dalmia Bharat, in January, had announced signing of a pact with KKR to acquire the global private equity giant’s 15 per cent stake in its subsidiary Dalmia Cement Bharat Ltd for over Rs 1,218 crore in a cash and stock deal. The deal earned the private equity player a return of 2.4 times on its investment of Rs 500 crore that it made in September 2010.

http://economictimes.indiatimes.com/industry/indl-goods/svs/cement/kkr-mauritius-cement-investments-buys-8-5-in-dalmia-bharat/articleshow/51396770.cms

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *