Reliance Infrastructure Ltd in advanced talks to sell its cement business
Published by Joseph Green,
Editor
World Cement,
Reliance Infrastructure Ltd has announced that it is in advanced talks to sell its cement business for US$394 million and a deal could be announced this week.
The buyer would also take over the cement unit’s outstanding debt of 24 billion rupees under the terms of the deal, giving the business an enterprise value of 50 billion rupees.
Reliance Infrastructure’s cement unit has three plants with a total installed capacity of 5.8 million tpy. Another 5 million tpy cement manufacturing plant is being developed in western Maharashtra state.
A consortium, which includes some private equity firms, is likely to emerge as the successful bidder for the unit.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcement.com/indian-subcontinent/04012016/reliance-infrastructure-advanced-talks-sell-cement-business-253/
You might also like
The World Cement Podcast - The changing face of cement in Europe
In this special joint episode of the World Cement Podcast and Cementing Europe’s Future, Senior Editor David Bizley is once again joined by Koen Coppelholle, CEO of Cement Europe (formerly CEMBUREAU). The two discuss the reasons behind the rebrand, a new action plan for cement, and the future of the industry.
Tune in to the World Cement Podcast on your favourite podcast app today.
