Bidders emerge for Jaiprakash Associates
Published by Joseph Green,
Editor
World Cement,
CRH and Dalmia Cement are likely to submit separate bids next month for the cement business of Jaiprakash Associates, according to a Reuters report.
The deal is likely to be worth about US$3 billion, which is the total debt linked to the cement business.
Others possible bidders include the Indian unit of Germany's HeidelbergCement, India's top cement maker Ultratech Cement Ltd and two private equity firms.
Dalmia, which is among the top five cement manufacturers in India, met with Jaiprakash management recently and visited the company's plants in Madhya Pradesh.
The divestment of the cement business by Jaiprakash is part of a strategy to reduce a debt burden that has been weighing on its balance sheet in the last few years.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcement.com/indian-subcontinent/04022016/bidders-emerge-jaiprakash-associates-447/
You might also like
The World Cement Podcast - What's next for US Cement?
In this episode of the World Cement Podcast, we are joined by Mike Ireland, President and CEO of the ACA or American Cement Association. Listen in as Mike and David dive into a range of topics, including the ACA’s recent rebranding efforts, decarbonisation, policy and legislation, and the impact of AI on cement demand.
Tune in to the World Cement Podcast on your favourite podcast app today.
