Shree Cement to acquire majority stake in UAE's Union Cement
West Bengal-based cement producer Shree Cement has agreed to acquire a majority stake in the United Arab Emirates-based Union Cement Company, the company revealed on Thursday. Shree Cement will acquire a minimum of 92.83% share, for an enterprise value of $305.24 million. Established in 1972, the Union Cement Company was the first cement producer established in the United Arab Emirates.