Cement sector is hot. Binani Industries announced that it is divesting further 10% stake in its cement business to Credit Suisse, which will buy shares at Rs 73 per share, reports CNBC-TV18. The company will raise Rs 150 crore with this stake sale.

In September last year, Binani Cements had sold 25 per cent stake to JP Morgan for Rs 250 crore. This deal was struck at Rs 49.20 per share. Binani Industries holds 65 per cent stake in Binani Cements.

Binani Zinc, another group company, is planning to rope in a foreign investor.

Go to article in Moneycontrol.com.

Related:

Binani Zinc Plans To Rope In Foreign Investor For Mining Business

Read cement related strories in VC Circle here.

Posted on 07/28/06, 2:57 PM
in: Deals, Main Page, Private Equity
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