Emami Group has entered into an agreement to sell its cement business to Nirma Group's Nuvoko Vistas Corporation Ltd. Apart from this the deal has been finalized for Rs 5,500 crore. For your information, let us know that Emami Group gave this information by issuing a statement on Thursday. The statement said that the promoters of the company wanted to reduce their group's debt burden. This decision has been taken keeping this in mind.

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In addition to Nuvoko Vistas (formerly Nirma Cement), the major cement companies of Aditya Birla Group UltraTech, Lafarge and Star Cement were in the race to buy the Emami Group's 83 million tonnes per annum cement business. Apart from this, Emami Cement has an integrated plant and three grinding units. Its annual production capacity is around 83 lakh tonnes.

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Apart from this, the company has a cement business in West Bengal, Odisha, Chhattisgarh, and Bihar. The same Emami Group director Manish Goenka said that the deal is an important step towards our group's goal of becoming debt free. After this deal, we will get very close to the target. Apart from this, experts say that Emami and Nuvoko deal will need approval from other regulators including the Competition Commission of India. This process is expected to be completed in the next three-four months.

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