Financial Daily from THE HINDU group of publications
Monday, May 15, 2006
Financial Daily from THE HINDU group of publications Monday, May 15, 2006 |
|
|
|
|
|
|
|
Corporate
-
Mergers & Acquisitions Industry & Economy - Cement Zuari sells cement biz for Rs 600 cr Our Bureau
New Delhi , May 14 Zuari Industries Ltd (ZIL), a K.K. Birla Group company, has exited the cement business by offloading its 50 per cent stake in Zuari Cements to its joint venture partner, Ciments Francais (of France), for around Rs 600 crore.
To focus on core business
"The decision of ZIL to sell its stake in cement business is based on the company's business strategy to focus on its core competence in fertilisers and agri-related businesses in India and overseas," the company said. ZIL's investment in Zuari Cements, a 50:50 joint venture with Ciments Francais, was to the tune of Rs 213.98 crore. Zuari Cements currently has an installed capacity of three million tonnes a year.
More Stories on : Mergers & Acquisitions | Cement
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|