"The share purchase agreement has been executed with JSW Cement Ltd, for sale of shares held by the promoters of the company," Shiva Cement said in a BSE filing.
Besides, JSW Cement, together with Sun Investments Private Ltd and and Reynold Traders Pvt Ltd, has made an open offer to the public equity shareholders of Shiva Cement to acquire up to 62,400,000 fully paid-up equity shares...Constituting 32 per cent stake for total consideration of Rs 87.36 crore.
Earlier, Shree Cement and JSW Cement were said to be in the fray to acquire Shiva Cement. However, the latter had denied having any such plans.
Shares of Shiva Cement were trading 3.98 per cent higher at Rs 13.60 apiece on BSE.
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