Construction Industry News
A regulatory filing on March 26 stated that Dalmia Cement, a wholly owned subsidiary of the Dalmia. Bharat group, had signed a contract to acquire Sarvapriya Healthcare Solutions' 42.36 percent stake in a subsidiary for an amount of 8000 million.
According to an application to the stock exchange, Dalmia Cement "entered into a binding agreement to sell the entire investment of 1,87,23,743 shares of Rs 10 each (42.36 percent of the share) capital) of Dalmia Bharat Refractories Limited, an associated company, to Sarvapriya Healthcare Solutions Private Limited, a company of the promoter group, for an amount of 8000 million."
According to the company's "plan to discontinue non-core operations", the choice was made in accordance with with the approval of Dalmia Bharat's board of directors on March 25.
The company stated that the transaction will close on or before April 25, 2023. Dalmia Cement will receive 20 percent of the total payment of $8 billion on the completion date.
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