Heidelberg Materials may consider divesting Indian business, CEO says
Heidelberg Materials may consider divesting Indian business, CEO says FRANKFURT, July 30 (Reuters) - Heidelberg Materials HEIG.DE may consider selling its Indian operations if the right opportunity arises, its chief executive said on Thursday, adding that for now the goal was to develop the business.
"If at some point there is an exit trigger we may think about it," Dominik von Achten told investors after presenting second-quarter results.
Heidelberg Materials owns 69.39% in Heidelbergcement India Ltd HEID.NS.
Moneycontrol last year reported UltraTech Cement, India's top cement producer by capacity, was in advanced talks with Heidelberg Materials to buy its local business, citing people familiar with the matter.
(Reporting by Christoph Steitz
Editing by Ludwig Burger)((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))
Recent news on Ultratech Cement
See all newsIndia's JSW Cement posts lower second-quarter profit as weak pricing, higher costs hurt margins
India's ACC posts 91% plunge in quarterly profit on higher fuel costs, weaker sales
Street View: India's Ultratech Cement's price hikes seen offsetting rising costs
India's UltraTech Cement misses profit view as higher costs weigh (updated)
India's UltraTech Cement falls after quarterly profit misses estimates