S. S. Steel Limited (DSE:SSSTEEL) agreed to acquire 75% stake in Southeast Union Ceramic Industries Limited for approximately BDT 2 billion on January 7, 2021. The consideration will be financed from the bank and company funds. Southeast Union Ceramic reported a yearly turnover of approximately BDT 4 billion. A share purchase agreement will be signed with the company after shareholders provide their approval in an extraordinary general meeting. The transaction is subject to shareholders approval of S. S. Steel Limited.