Bloomberg are reporting that Birla Corporation has completed the acquisition of Reliance Infrastructure’s cement business.
The company acquired 100% equity shares of Reliance Cement Company from RIL, making it a wholly-owned subsidiary of Birla.
Birla had previously announced that the acquisition of the entire cement business will be for an enterprise value of Rs 4800 crore.
The acquisition will increase the total capacity of the company to approximately 15.5 million tpy from around 10 million tpy
The deal gives Birla access to three units of Reliance Cement – an integrated plant at Maihar, Madhya Pradesh, and grinding units in Kundanganj, Uttar Pradesh and Butiburi, Maharashtra.
Read the article online at: https://www.worldcement.com/indian-subcontinent/25082016/birla-corp-completes-acquisition-reliance-cement-156/