◂ Announcements

May 31, 2017ACQUISITIONIndia

Orient Cement to acquire 74% stake in Bhilai Jaypee Cement from Jaiprakash Associates

Jaiprakash Associates has executed a definitive agreement with Orient Cement for the sale of its 74% equity stake in Bhilai Jaypee Cement, based on an enterprise value of Rs 1,450 crore.

Value

$224.0M (14.5B INR)

Status

Announced

Productscement

CompaniesJaiprakash Associates target Orient Cement acquirer Bhilai Jaypee Cement target

Sectors#Construction Materials

“Jaiprakash Associates has executed today a definitive agreement with Orient Cement (OCL), a part of CK Birla Group, as authorized by the Board of Directors of the Company on 6 October 2016 for acquisition by OCL of Company's 74% equity stake in Bhilai Jaypee Cement”business-standard.com

1 source
business-standard.comJaiprakash Associates signs definitive agreement with Orient CementCapital MarketMay 31, 2017

Summarized from public sources; check the original articles before acting on it.

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