Ultratech to take over Kesoram's cement biz in share swap deal

AV Birla group's largest cement maker UltraTech Cement has taken over the cement business of BK Birla group's flagship Kesoram Industries in a share swap deal.

Kesoram told the bourses that it has demerged the cement business and in a share swap deal, shareholders will receive one share of UltaTech Cement for 52 Kesoram shares of Rs 10 each.