UltraTech Cement of India is believed to be in talks with Kenya-listed ARM Cement for the controlling stake in the latter. The Indian cement manufacturer could acquire convertible preference shares of up to US$125 million (€114.44 million) in ARM Cement. Earlier, ARM Cement announced the impending transaction, but did not disclose the identity of the potential investor. The transaction is likely to be completed by March 2016.
UltraTech Cement of India is believed to be in talks with Kenya-listed ARM Cement for the controlling stake in the latter.
The Indian cement manufacturer could acquire convertible preference shares of up to US$125 million (€114.44 million) in ARM Cement.
Earlier, ARM Cement announced the impending transaction, but did not disclose the identity of the potential investor.
The transaction is likely to be completed by March 2016.
