Skip to main content

Jaypee Group revives talks with JSW to sell cement portfolio

 

Published by
World Cement,

Eight months after talks began, Jaypee Group has revived its negotiations with Sajjan Jindal's JSW to sell its entire 20-22 million t cement portfolio with the objective of markedly improving its financial health.

High-ranking officials including Manoj Gaur, Executive Chairman and CEO of Jaypee Group, met Sajjan Jindal, Chairman on JSW Steel, to discuss the acquisition.

Jaypee Group has mounting debt, with an outstanding responsibility of approximately Rs 75 000 crore.

The talks are still at early stage and there is no guarantee of a completed transaction considering the debt of Jaypee Group.

This is the second time that Jaypee Group has negotiating with JSW Cement. Earlier this year, the company was in talks with JSW and Heidelberg Cement to form a joint venture to control a majority of its cement plants. However the talks fell through when Heidelberg opted out of the deal.


Edited from sources by Joseph Green. Sources: ETReality, dna India, Economic Times

 

Jaypee Group to reduce debt by entering JV?

Media speculation suggests that the Jaypee Group is in talks with other cement companies about forming a joint venture for the majority of its existing plants.

JSW Cement plans expansion into Kerala

According to reports, JSW Cement is planning a growth of 9 – 10% this year through expansion in south Indian markets.