India: UltraTech leads race to buy Emami Group’s cement business

India: UltraTech leads race to buy Emami Group’s cement business

A pedestrian walks past UltraTech Cement Ltd. warehouses near Cochin Port in Cochin, India, on Friday, May 29, 2015. Photographer: Dhiraj Singh

UltraTech Cement Ltd, India’s largest producer of the building material, has emerged as the front-runner to buy the cement business of Emami Group in an all-cash deal worth 6,500-7,000 crore, according to three people with direct knowledge of the discussions.