UltraTech to buy Binani Cement for over â¹7,200 crore
Aditya Birla Group-promoted UltraTech Cement has entered into an agreement with Binani Industries to buy its cement arm for â¹7,266 crore, even as its insolvency process continues. Binani had approached UltraTech for arranging funds to pay-off the debts in exchange for selling Binani Cement. The move is reportedly aimed at blocking lenders' decision to hand over Binani to Dalmia Bharat.