UltraTech Cement to acquire cement units of Jaiprakash Associates
Published by Joseph Green,
Editor
World Cement,
UltraTech Cement Limited has entered into a binding Memorandum of Understanding with Jaiprakash Associates Limited for the acquisition of its identified cement plants having total cement capacity of 22.4 million tpy situated in the states of Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand Andhra Pradesh and Karnataka.
The assets will give the company access to the newer markets of Satna, UP East, Himachal Pradesh and Coastal Andhra where it does not have a presence currently. Upon consummation of the proposed transaction the company’s cement capacity will stand augmented to 90.7 million tpy. The parties have agreed to an Enterprise Value of Rs.16 500 crore.
The transaction is subject to definitive agreements and regulatory approvals as may be required.
Edited from source by Joseph Green. Source: Aditya Birla
Read the article online at: https://www.worldcement.com/indian-subcontinent/29022016/ultratech-cement-acquire-cement-units-jaiprakash-associates-590/
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.
