Ultratech Acquires Kesoram Cement in Share Swap Deal
Nov 30, 2023 18:06
Aditya Birla Group's Ultratech Cement takes over Kesoram Industries' cement business in a share swap deal. Kesoram shareholders will receive one Ultratech share for 52 Kesoram shares.
Photograph: Amit Dave/Reuters
Kolkata, Nov 30 (PTI) Aditya Birla Group's largest cement maker UltraTech Cement has taken over the cement business of B K Birla group's flagship Kesoram Industries in a share-swap deal, according to a regulatory filing.
Kesoram informed the bourses that it has demerged the cement business and as part of a deal, shareholders will receive one share of UltaTech Cement for 52 Kesoram shares of Rs 10 each.
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