Economy & Market
Emami divests 100% stake in Emami Cement
The FMCG-company, Emami, has completed its divestment transaction with Nuvoco Corporation. Emami has divested 100 per cent stake in its subsidiary Emami Cement for an enterprise value of Rs5,500cr. Emami in a regulatory filing said, "We are pleased to inform you about the completion of the transaction between Emami Group (Emami) and Nuvoco Corporation (NVCL) for the divestment of its 100 per cent equity stake in Emami Cement Limited (Emami Cement) for an enterprise value of Rs 5,500 crore."