your password has been reset successfully, Please login again.

True North to buy majority stake in Shree Digvijay Cement

True North has acquired a 75% stake in Shree Digvijay Cement Company Ltd from Brazil-based Votorantim Cimentos.
BY BEx Bureau
BusinessEx
Nov 14, 2018

Private equity firm True North has acquired a 75% stake in Shree Digvijay Cement Company Ltd from Brazil-based Votorantim Cimentos.

True North has also made an open offer to buy the remaining 25% stake in Mumbai-listed Shree Digvijay Cement. The open offer has been made at Rs 23.33 per share, which translates to Rs 83 crore for the 25% stake.

Srikrishna Dwaram, Partner, True North, said, "Votorantim Cimentos has contributed significantly to the strategic initiatives taken at Shree Digvijay Cement over the last few years. This has strengthened its competitive positioning and has greatly improved its operating and financial performance. We are very excited about this opportunity, with fresh investment and new thinking we can create a lot of value for all."

Jorge Wagner, Chief Executive officer of Votorantim Cimentos (Europe, Africa, Asia), stated, "True North is one of India's leading private equity firms. We are confident that the firm will add great value by virtue of being not just a mere investor, but as a true business partner, leveraging the already existing strengths at Shree Digvijay Cement."

Please add your Comment
SIMILAR News
June 18, 2019
Kredily helps to digitise businesses and automate HR as well as payroll-related duties. ...More
By Jaspreet Kaur
June 18, 2019
Tech Mahindra, a subsidiary of Mahindra Group, is buying Canadian IT consultancy, Objectwise for rou ...More
By Jaspreet Kaur
June 17, 2019
The tech giant, Amazon is in talks with the Indian supply chain firm, NinjaCart to make a huge inves ...More
By Jaspreet Kaur
June 17, 2019
Ascendas Property Fund Trustee manages Ascendas trust and had signed a concord with Nalanda Shelter, ...More
By Jaspreet Kaur
June 14, 2019
Since April 2017, Nikkei, as well as NewsRise, have been collectively rendering English-language new ...More
By Jaspreet Kaur
June 14, 2019
The acquisition of 30 per cent shares would prompt an open offer from Total SA to the public stakeho ...More
By Jaspreet Kaur
June 13, 2019
The Bahrain-based firm, Investcorp is raising money through its real-estate fund, which it had start ...More
By Jaspreet Kaur
June 11, 2019
The multinational conglomerate company, Softbank Group has more than 46 per cent shareholding in OYO ...More
By Jaspreet Kaur
June 11, 2019
By attaining a second close, the micro venture capital fund can begin investing in the companies and ...More
By Jaspreet Kaur
June 10, 2019
The acquisition of Jaypore, an e-commerce platform, is likely to happen in 35 to 40 days. ...More
By Jaspreet Kaur
June 10, 2019
The platform helps to ascertain real-time locations to masses of people and other vital niches such ...More
By Jaspreet Kaur
June 07, 2019
Advent International can escalate the amount it may invest in India as it currently acquires control ...More
By Jaspreet Kaur