JSW cement buys out Shiva cements
JSW Cement, has acquired promoters' share in Odisha-based Shiva Cement and has also launched an open offer to acquire 32 per cent stake from public shareholders. "The share purchase agreement has been executed with JSW Cement Ltd, for sale of shares held by the promoters of the company," Shiva Cement said in a BSE filing. Besides, JSW Cement, together with Sun Investments Private Ltd and andReynold Traders Pvt Ltd, has made an open offer to the public equity shareholders of Shiva Cement to acquire up to 62,400,000 fully paid-up equity shares...constituting 32 per cent stake for total consideration of Rs 87.36 crore.
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