UltraTech's subsidiary divests its entire stake in two entities in Bangladesh
Capital MarketUltraTech Cement announced that its wholly owned subsidiary, UltraTech Cement Middle East Investments in UAE has entered into a binding
agreement with HeidelbergCement Bangladesh for divesting its entire shareholding in Emirates Cement Bangladesh and Emirates Power Company.
In terms of the agreement, UltraTech Cement Middle East Investments will divest its entire shareholding at an Enterprise Value of
BDT equivalent of USD 29.5 million subject to obtaining necessary regulatory approvals in
compliance with the laws of Bangladesh.
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