Binani Cement to entertain UltraTech’s last minute $1.1 billion bid

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Binani Cement Ltd. lenders will entertain Kumar Mangalam Birla’s last-minute $1.1 billion bid for the insolvent Indian company, people with knowledge of the matter said.

The committee of creditors decided at a meeting Wednesday it would be willing to support the proposal, which would see Binani Cement sold to billionaire Kumar Birla’s UltraTech Cement Ltd., according to the people.
Read more at Hindustan Times.

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