Dalmia to merge its two listed cement companies
Dalmia´s restructuring plan will also include merging Dalmia Bharat Enterprises with itself. Industry sources further noted that private equity firm Kohlberg Kravis Roberts (KKR) holds a 14.5 per cent stake in Dalmia Bharat Enterprises and will therefore own a small share in the merged listed entity. Dalmia Bharat currently holds a 48 per cent stake in OCL India; the companies have a combined cement capacity of approximately 20 million tonnes. Following the merger, the swap ratio is set to favour OCL India´s shareholders.