UltraTech to acquire 8.69 pc in Star Cement from promoters in Rs 851-cr deal

NEW DELHI: Leading cement producer UltraTech Cement on Friday announced the acquisition of a minority stake of 8.69 per cent from the promoters of Meghalaya-based Star Cement in a deal worth up to Rs 851 crore.

Star Cement, having an installed capacity of 7.7 MTPA (million tonnes per annum), has a presence in the markets of north-eastern India and is rapidly expanding in West Bengal and Bihar.

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The development comes a few days after the Aditya Birla group firm completed the acquisition of a controlling stake in India Cements Ltd, turning south-based company into its subsidiary.

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