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| Exchange Received Time 11/07/2018 19:20:19 Exchange Disseminated Time 11/07/2018 19:20:24 Time Taken 00:00:05 | This has reference to our earlier announcement dated 11th January, 2018 regarding approval of the Board of Directors of the Company for acquisition of majority equity stake in Union Cement Company, UAE ('UCC') and signing of the definitive agreement in this regard with the sellers. UCC has since been converted from a Public Joint Stock Company to a Private Joint Stock Company.
We would like to inform that we have successfully completed the acquisition of UCC today i.e. on 11th July, 2018. The acquisition was made through Wholly Owned Step-down Subsidiary Company viz. Shree International Holding Limited incorporated in UAE, which has acquired 97.61% equity stake in UCC.
Please take the same on record. |
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