KKR solidifies India cement with Dalmia
Kohlberg Kravis Roberts & Co. has agreed an investment of around INR750 crore ($164 million) into Dalmia Cement (Bharat), for a c.20% stake in unlisted subsidiary Avnija, which will house the group's cement manufacturing capacity to create India's largest private cement company.
“When we realigned our businesses in March, 2010, one of our goals was to create separate pure-play entities that could thrive on their own and have flexibility to raise capital," said Puneet Dalmia,...
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