Jaiprakash Associates shares jump
Published by Joseph Green,
Editor
World Cement,
Bloomberg has reported that Jaiprakash Associates shares jumped the most since November after the company announced plans to sell its cement units to UltraTech Cement at a value of US$2.4 billion.
Jaiprakash Associates increased by as much as 8.1% on 29 February after the company announced that it had signed a binding memorandum of understanding on the sale. UltraTech will take on the Jaiprakash cement operations’ debt while paying little or no equity.
The deal will increase UltraTech’s capacity by 33% to 90.7 million t and give it access to markets in six Indian states.
KKR & Co. and JSW Cement Ltd. had also bid for Jaiprakash’s cement assets.
Edited from source by Joseph Green. Source: Bloomberg
Read the article online at: https://www.worldcement.com/indian-subcontinent/02032016/jaiprakash-associates-shares-ultratech-612/
You might also like
thyssenkrupp Polysius supplies AFR feeding system to Sung Shin cement plant
The prepol® SC was installed at the Sung Shin cement plant, passing the performance acceptance test and entering commercial operations in record time.
