Ultratech Cement, part of the AV Birla group, has acquired the cement business of Kesoram Industries in a share swap deal, involving a ratio of 1 Ultratech share for 52 Kesoram shares.
Photograph: Amit Dave/Reuters
Kolkata, Nov 30 (PTI) AV Birla group's largest cement maker UltraTech Cement has taken over the cement business of BK Birla group's flagship Kesoram Industries in a share swap deal.
Kesoram told the bourses that it has demerged the cement business and in a share swap deal, shareholders will receive one share of UltaTech Cement for 52 Kesoram shares of Rs 10 each.
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