Dalmia Cement (Bharat), has added a further 26% to its stake in Kolkata-based Calcom Cement India Ltd at a price of Rs.77.16 crore (US$14 million).
Perhaps most interestingly, since taking a 50% stake in Calcom Cement in January 2012, Dalmia has changed its stance on the overall value of Calcom. This new deal places a value of Rs.296 crore on the company, as opposed to the previous deal, which valued it at Rs.576 crore. As with the previous deal though, the payment will be made in multiple instalments.
Calcom is in the process of expanding its production capacity to 2.1 million tpa, putting it in a strong position to supply its local markets in north eastern India; at present, almost half of the region’s 5 million tpa demand is supplied by non-local sources.
Edited from news source by Jack Davidson.
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