UltraTech Cement to acquire a 32.72% stake in India Cements for $472m.

UltraTech Cement, an Indian multinational cement company, agreed to acquire a 32.72% stake in India Cements, a cement manufacturing company, for $472m. India’s largest cement maker will pay $472m to acquire an additional 32.72% in India Cements, with company founders selling 28.42% and the rest coming from another shareholder, Sri Saradha Logistics. With almost 23% bought in June, Birla’s firm now owns 55.5% in the Chennai-based cement maker.