Heidelberg Cement Bangladesh announces acquisition of ECBL & EPCL

Heidelberg Cement Bangladesh Ltd has informed the Dhaka Stock Exchange that the company's Board of Directors has approved the acquisition of 100 per cent of the shareholding of Emirates Cement Bangladesh Ltd (a private company limited by shares incorporated in Bangladesh and engaged in cement production) and Emirates Power Co Ltd (a private company limited by shares incorporated in Bangladesh and engaged in generating and supplying electricity) from UltraTech Cement Middle East Investments Ltd.
 
The amount of consideration payable at closing shall be the local currency equivalent of US$21.518m. The transaction is subject to completion of the necessary regulatory formalities and approvals in compliance with the laws of Bangladesh.