True North to buy Votorantim Cimentos' 75% stake in Shree Digvijay Cement

Deal value not disclosed; buyer has been investing in Indian construction and building material sector for more than a decade

Private Equity firm True North has signed an agreement to buy Votorantim Cimentos' direct and indirect 75 per cent stake in Shree Digvijay Cement Company Limited (SDCCL) for an undisclosed sum.
 

The Brazilian firm is the largest cement company in Brazil and 8th largest in the world.
 

This acquisition would require completion of a mandatory open offer to the minority shareholders of SDCCL, said the investor.

True North has more than a decade-long experience with investments in the Indian construction and building materials space. It owns and manages two businesses in this space - RDC Concrete (“RDC”), a manufacturer