India’s Sagar Cements in-principle approvale for BMM Cement takeover

The board of directors of Sagar Cements gave an in-principal approval to the company to proceed with the acquisition of BMM Cement. According to a statement, BMM Cement owns a cement plant of 1 million tonnes/year in Anantapur district in the state of Andhra Pradesh, with a captive power unit of 325MW. Sagar Cements is seeking to acquire a 100% interest in BMM Cement for INR 5.4 billion (€68.87 million/US$88.50 million).
September 26, 2014 Read time: 1 min

The board of directors of Sagar Cements gave an in-principal approval to the company to proceed with the acquisition of BMM Cement.

According to a statement, BMM Cement owns a cement plant of 1 million tonnes/year in Anantapur district in the state of Andhra Pradesh, with a captive power unit of 325MW.

Sagar Cements is seeking to acquire a 100% interest in BMM Cement for INR 5.4 billion (€68.87 million/US$88.50 million).

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