Cherat Cement to Buy a 64.07% Stake in Nimir

Cherat Cement has agreed to acquire a 64.07% stake in Nimir Industrial Chemicals for Rs 24.09 billion, at Rs 340 per share. The deal is subject to regulatory approvals.

A 64.07% stake is a majority holding. Rs 24.09 billion is the total price, and Rs 340 is the price for each share. Regulatory approvals mean regulators still have to clear the deal before it can close. The update does not give a closing date or name the regulators.

What Cherat Cement has agreed to pay

The agreed price is Rs 24.09 billion for 64.07% of Nimir Industrial Chemicals, which works out to Rs 340 a share. Nothing in the update says the purchase has already closed.

Our verdict

Cherat Cement has agreed to buy 64.07% of Nimir Industrial Chemicals for Rs 24.09 billion, at Rs 340 per share. Regulators still have to approve it.

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