Both the Dalmia Bharat consortium and UltraTech offered around a 20% stake to Binani Cement creditors, people with knowledge of the matter said. Photo: Mint
Mumbai: The race for Binani Cement Ltd is headed for a photo finish with top two contendersDalmia Bharat Cement Ltd and UltraTech Cement Ltdsubmitting nearly identical bids.
The two finalists have submitted bids of roughly around Rs 6,000 crore each, two people close to the bidding process said, adding that the amount includes upfront cash payments, as well as an offer of close to 20% stake in Binani to lenders.
According to the people cited above, who spoke on condition of anonymity, lenders will decide on the winning bid in the coming week. Bloomberg was the first to report on 17 Febr…
Read the full article at: http://www.livemint.com/Companies/0bonEL4v4JWdGOgoslEiiM/Bain-Capitalbacked-consortium-is-said-to-be-highest-bidder.html
