UltraTech Cement is considering buying a controlling stake in ARM Cement of Kenya. UltraTech is backed by Indian billionaire Kumar Mangalam Birla.
ARM announced on 23 December that it is in talks with an unidentified institutional investor concerning a US$125 million investment.
UltraTech Cement is the largest producer of grey cement, ready mix concrete and white cement in India and is also one of the leading manufacturers of the commodities globally.
The company has an installed capacity of 67.7 million tpy of grey cement, with 12 integrated plants and 18 grinding units.
Its operations cover India, UAE, Bahrain, Bangladesh and Sri Lanka and South Africa.
Edited from sources by Joseph Green. Sources: Live mint, Business Standard, Footprint to Africa
Read the article online at: https://www.worldcement.com/africa-middle-east/13012016/ultratech-considers-buying-stake-kenya-arm-cement-311/
