Board of Sagar Cements gives 'in principle' approval for acquisition of BMM Cements

On 24 September 2014

Sagar Cements announced that its Board of Directors has on 24 September 2014 accorded its in principle approval for the acquisition of 100% equity stake in BMM Cements, which owns a cement plant of 1 million tonne capacity p.a. and a captive thermal power plant of 25 MW capacity in Gudipadu near Tadipatri Anantapur District in the state of Andhra Pradesh.

This company which has an Enterprise Value of Rs. 540 crore, has limestone reserves of around 155 Million Tonnes.

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