UltraTech Cement Ltd on Tuesday said it will sell its entire stake in Bangladesh-based Emirates Cement Bangladesh Ltd (ECBL) and Emirates Power Company Ltd (EPCL) to Germany’s HeidelbergCement for an enterprise value of $29.5 million (about Rs 211.48 crore).

— Business Standard

Bharucha & Partners advised UltraTech Cement Limited led by a team of partner Alka Bharucha, managing associate Ayesha Bharucha, associate Aishwarya Gupta.

Bangladesh-based law firm S Hossain & Associates led by partner Sanwar Hossain acted as local counsel for UltraTech Cement Limited.

Deal value: Approx $21.52m

2019-11-12

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