Corporate News 27-Oct-21
Board of Dalmia Bharat takes note of BTA entered into by Dalmia Cement (Bharat)
At meeting held on 27 October 2021
The Board of Dalmia Bharat at its meeting held on 27 October 2021 has noted that Dalmia Cement (Bharat) (DCBL), a wholly owned subsidiary of the Company, in its board meeting held on 26 October 2021, approved the sale of its master wholesaler business for all construction and building materials (Undertaking) as a going concern on a slump sale basis to Hippostores Technology, a promoter group company. The slump sale will be by way of executing a Business Transfer Agreement (BTA) for a consideration of Rs. 115 crore, as of August 31, 2021, with an understanding that any further cash infusion in this Undertaking from 01 September 2021 onwards till the closure of the sale will be added to the above consideration of Rs. 115 crore (aggregate sales consideration).
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