It is finally happening! Ultratech acquiring Kesoram’s cement division in the form of 1:52 Ultratech : Kesoram 100% equity share swap ratio. Valuing its clinker backed cement capacity of 8.5 MT at $87/MT and total cement capacity of 10.75 MT at $70/MT. Another case to justify that M&A in cement sector happens at least closer to its replacement value, despite the existing problems.
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