Dalmia Cement, a subsidiary of Dalmia Bharat Enterprises Limited has acquired Meghalaya-based Adhunik Cement for a consideration of about Rs 560 crore. The acquisition and consideration shall be made in a phased manner, the company said in a statement.
Adhunik Cement which is a joint venture between Kolkata based Adhunik Group and MSP Group has a capacity of 1.5 million metric tons a year with a market share of about 10 per cent in the North East.
In January this year, Dalmia Cement had acquired 50 per cent stake in Assam-based Calcom Cement for a consideration of about Rs 238 crore.
Adhunik Cement sells cement under the Adhunik MSP brand.