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UltraTech to divest its share in Bangladesh-based units to HeidelbergCement

Published by , Deputy Editor
World Cement,

UltraTech Cement Middle East Investments Limited (UCMEIL) has entered into a "binding agreement with HeidelbergCement Bangladesh Ltd for divesting its entire shareholding in ECBL and EPCL", according to the Aditya Birla Group firm.

"In terms of the agreement, UCMEIL will divest its entire shareholding at an enterprise value of BDT equivalent of US$29.5 million, subject to obtaining necessary regulatory approvals in compliance with the laws of Bangladesh," Aditya Birla Group added.

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