![UltraTech Cement offers to acquire 31.6% stake in UAE-based RAKWCT; stock rises](https://images.assettype.com/fortuneindia%2F2022-04%2F48c23f10-5d85-4c37-9047-93412c447ca4%2FUltratech.jpg?rect=0,0,720,360&w=300&q=95)
UltraTech Cement offers to acquire 31.6% stake in UAE-based RAKWCT; stock rises
This acquisition will be executed through UltraTech's wholly-owned UAE subsidiary, UltraTech Cement Middle East Investments Ltd (UCMEIL)
This acquisition will be executed through UltraTech's wholly-owned UAE subsidiary, UltraTech Cement Middle East Investments Ltd (UCMEIL)
Together with the existing shareholding, UCMEIL's stake will rise to 29.79%. UAE-based RAKWCT has posted revenue worth Rs 482.5 crore in CY21.