Dalmia Bharat Enterprises Ltd said Friday it has signed an agreement to acquire Adhunik Group's cement unit for about INR5.60bn (US$106.3m).
Under the deal, Dalmia Cement Bharat Ltd. will acquire Adhunik Cement Ltd., the company said in a regulatory filing.
Adhunik Cement sells cement under the Adhunik MSP brand and has a manufacturing facility with a capacity of 1.5Mta in the Jaintia Hills of Meghalaya, a northeastern state in India, according the Adhunik Group website.
Steel maker Adhunik Metaliks Ltd is the flagship company of the energy and metals group.
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