HeidelbergCement Bangladesh Limited (DSE:HEIDELBCEM) entered into a binding agreement to acquire Emirates Cement Bangladesh Limited and Emirates Power Company Limited from UltraTech Cement Middle East Investments Limited for an enterprise value of $29.5 million on November 12, 2019. The transaction is subject to obtaining necessary regulatory approvals in compliance with the laws of Bangladesh. HeidelbergCement Bangladesh Limited (DSE:HEIDELBCEM) completed the acquisition of Emirates Cement Bangladesh Limited and Emirates Power Company Limited from UltraTech Cement Middle East Investments Limited for $21.5 million on December 8, 2019. Emirates Cement Bangladesh Limited and Emirates Power Company Limited will operate as wholly-owned subsidiaries. As of October 20, 2021, High Court approved the transaction and earlier shareholders of HeidelbergCement approved the transaction. Alka Bharucha of Bharucha & Partners and Sanwar Hossain of S Hossain & Associates acted as legal advisors to UltraTech Cement Limited.