Vicat in talks to acquire final 47% of Vicat Sagar Cement
First publishedon www.AggBusiness.com
Vicat is in talks with Sagar Cements to acquire its Indian partner's 47% interest in the Vicat Sagar Cement joint venture for around €481.94 million (INR 41 billion).
Vicat Sagar Cement started its operations in January 2013 with an initial capacity of 2.75 million tonnes at its facility in Gulbarga, Karnataka. If the deal is realised, it will be the largest since the INR 38 billion takeover of Jaypee Cement's unit in Gujarat by Ultratech in September 2013.