UltraTech on verge of signing Jaiprakash Associates deal

UltraTech on verge of signing Jaiprakash Associates deal
Published: 11 September 2013


UltraTech Cement is reportedly on the verge of signing a deal with Jaiprakash Associates to acquire the latter’s cement assets in the Indian state of Gujarat.

Following months of negotiations, the agreement is expected to be signed today, according to local press speculation. Both Jaypee and UltraTech are expected to make the announcement simultaneously in Delhi and Mumbai, respectively.

The Gujarat units have a capacity of 4.8Mta and will help increase UltraTech’s presence in western India.  Meanwhile, the deal will help Jaiprakash Associates to reduce debt.