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Dalmia Bharat has received CCI’s approval for acquiring 15 percent stake in its subsidiary Dalmia Cement Bharat from private equity giant KKR for over Rs 1,218 crore in a cash and stock deal.
Following the deal, Dalmia Cement Bharat Ltd (DCBL) will become a wholly owned subsidiary of Dalmia Bharat Ltd (DBL).
Punit Dalmia, Dalmia Bharat Group MD had said that “Dalmia Bharat Ltd (DBL) signed a definitive agreement with KKR, under which it will acquire KKR’s 15 percent stake in DCBL in return of KKR getting 8.5 percent stake in DBL as well as Rs 600 crore in cash.”
