×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Madras Cements in talks to sell unit for Rs 350 crore

Madras Cements in talks to sell unit for Rs 350 crore
Comment E-mail Print Share
First Published: Tue, Jul 12 2011. 12 26 PM IST
Updated: Tue, Jul 12 2011. 12 26 PM IST
Mumbai: Madras Cements is in talks with the world’s largest and second-largest cement makers Lafarge and Holcim, respectively, to divest its cement grinding unit in West Bengal, according to a report.
Madras Cements, the flagship company of the Ramco Group, is looking to sell the unit for about Rs 350 crore, a report said quoting sources briefed on the matter.
“We have been approached by a number of cement manufacturers to sell the grinding unit. At present, we are only exploring the offers made by these people,” P.R. Venkatrama Raja, vice chairman at the Ramco Group said.
“No decision has been taken yet,” he added.
Private equity major KKR-backed Dalmia Cements had shown early interest, but has dropped out of the deal now, the report said.
Comment E-mail Print Share
First Published: Tue, Jul 12 2011. 12 26 PM IST