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UltraTech considers buying stake in Kenya’s ARM Cement: report
Posted on 12th January 2016
Nairobi/Mumbai: UltraTech Cement Ltd, backed by K.M. Birla, may buy a controlling stake in ARM Cement Ltd of Kenya, a Nairobi-based newspaper reported.

ARM announced on 23 December it’s in talks with an unidentified institutional investor about a $125 million investment. Chief executive officer Pradeep Paunrana declined to comment on Tuesday when Bloomberg called him, citing regulatory compliance.

Pragnya Ram, a spokeswoman for the Aditya Birla Group that controls UltraTech, didn’t immediately respond to an e-mail and a text message seeking comment.

Related Companies: Unitech Limited   

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Markets regulator Sebi has ordered the attachment of bank and demat accounts as well as mutual fund holdings of Exelon Infrastructure and its three directors to recover dues of over Rs 46 lakh. In four separate but similarly worded orders dated July 12, the regulator said the four entities have not made payment of the dues within the stipulated time and there is sufficient reason to believe that they may dispose of the proceeds and securities in the respective bank and demat accounts.

IOC adds 7 medal events to 2022 Beijing Winter Games
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Planning for its next three Olympic Games, the International Olympic Committee (IOC) has added seven medal events to the 2022 Beijing Winter Games, published a 2020 Tokyo Olympics schedule with no agreement on when to race swimming finals, and set a timetable to add new sports to the 2024 Paris Olympics.

Android access: EU levies $5-billion fine on Google
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Nifty Smallcap sinks 22.8%, loses Rs 1.3 lakh cr in m-cap
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