Ambuja Cements on Monday said it has acquired 85 per cent stake in Nepal's Dang Cement Industries for Rs. 19.13 crore.
In a stock exchange filing, the domestic cement maker said it was also in the process to acquire an additional 5 per cent stake in the Nepalese firm for Rs. 1.13 crore.
Dang Cemet Industries holds limestone mining lease in Nepal. Limestone is a key raw material for manufacturing of cement.
"At present, the company (Dang) is not carrying out any business activity," the Ambuja statement said.
With the acquisition, Dang Cement Industries has become an Ambuja subsidiary.
In a stock exchange filing, the domestic cement maker said it was also in the process to acquire an additional 5 per cent stake in the Nepalese firm for Rs. 1.13 crore.
Dang Cemet Industries holds limestone mining lease in Nepal. Limestone is a key raw material for manufacturing of cement.
"At present, the company (Dang) is not carrying out any business activity," the Ambuja statement said.
With the acquisition, Dang Cement Industries has become an Ambuja subsidiary.
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