Dalmia Bharat to aquire KKR's stake in Dalmia Cement Bharat

To issue KKR 7.5 million equity shares and a cash consideration of Rs 600 crore

Dalmia Bharat announced the signing of a definitive agreement with KKR, under which Dalmia Bharat will acquire KKR's stake in Dalmia Cement Bharat (DCBL) and concurrently bring in KKR as Dalmia's largest institutional shareholder with 8.5% holding. The transaction will simplify DCBL's shareholder structure with DCBL becoming a 100% subsidiary of Dalmia Bharat.

Dalmia Bharat will make a preferential issue of 7.5 million equity shares to KKR at Rs 825 per share and pay KKR a cash consideration of Rs 600 crore to acquire KKR's stake in DCBL.

 

Powered by Capital Market - Live News