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Dalmia Cement is set to acquire a 50 per cent stake in Calcom Cement in Assam.
Dalmia Cement (Bharat) Ltd, a subsidiary of the BSE-listed Dalmia Bharat Enterprises Ltd, is set to acquire up to 50 per cent stake in the equity of Calcom Cement for an aggregate investment of Rs 238 crore.
According to information provided to the stock exchange, the investment would be through various tranches, new issuances and acquisitions and terms spelt out in the definitive document.
The decision was taken today at a meeting of the company's mergers and acquisitions committee.
Calcom Cement, which manufactures Ordinary Portland Cement and Portland Pozzolona Cement, has a consolidated production capacity of 2.1 million tonnes a year.
A communication from the company said Calcom has a robust presence in the North-East and a 50 per cent ownership in the ‘semi commissioned plant' is a first concrete example of the non-organic, acquisition-based growth strategy of Dalmia Cement.
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