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Ambuja Cements says buys stake in Nepal firm

Wednesday 8th Jun 2011 1252

Ambuja Cements says buys stake in Nepal firm

New Delhi : Ambuja Cements Ltd , India's No 3 cement maker, said on Monday it has bought an 85 per cent stake in Nepal's Dang Cement Industries for about 191 million rupees ($4.3 million).

Ambuja said in a statement it was also in the process of buying an additional 5 per cent in Dang, which holds limestone mining lease in Nepal , for 11.3 million rupees.

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