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    BILVYAPAR — BIL Vyapar News Story

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    Brief: UltraTech Cement Says In-Principle Concluded Understanding With Binani Industries

    Picture of BIL Vyapar logoBIL Vyapar
    19/03/2018 07:12
    March 19 (Reuters) - UltraTech Cement:
    * BINANI INDUSTRIES APPROACHED CO TO ARRANGE FUNDS TO
PAY-OFF
LENDERS DEBTS AGAINST OFFER OF SALE OF ENTIRE BINANI CEMENT
SHAREHOLDING
    * CO IN-PRINCIPLE CONCLUDED COMMERCIAL UNDERSTANDING WITH
BINANI
INDUSTRIES FOR PURCHASE OF 98.47 PERCENT STAKE IN BINANI CEMENT
    * BINANI INDUSTRIES REQUESTED CO TO ISSUE COMFORT LETTER AS
SUPPORT IN APPLICATION SEEKING TERMINATION OF INSOLVENCY
PROCEEDING
    * CO WILL PROVIDE FUNDS WORTH 72.66 BILLION RUPEES FOR
ACQUIRING
BINANI CEMENTS

Source text - http://bit.ly/2pmwGGw
Further company coverage:  BINZ.NS 

 ((Reuters.Briefs@thomsonreuters.com;))

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