India: Emami to sell cement biz to Nirma group arm for $785.7m

India: Emami to sell cement biz to Nirma group arm for $785.7m

Photo: livemint.com

Kolkata-based Emami Group on Thursday said it has entered into a binding agreement with a Nirma group arm – Nuvoco Vistas Corporation Ltd – for the sale of its cement business, Emami Cement Ltd, for an enterprise value of Rs5,500 crore.