Cement News tagged under: Jaiprakash Associates
Jaypee Group’s cement assets up for grabs29 December 2015, Published under Cement NewsJaypee Group is planning for an outright sale of its 20Mt portfolio of cement assets worth an estimated INR190 (US$2.86bn) enterprise valuation. UltraTech, Dalmia Bharat backed by private equity investor KKR and Shree Cement have each been approached to take over Jaypee Group’s cement business. Other private equity firms are also reported to have been approached with a detailed information memorandum of operations. Jaypee Group, one of the top ten most indebted Indian conglomerates with a ... |
UltraTech reportedly nearing deal to buy Bhilai grinding plant, India27 August 2015, Published under Cement NewsUltraTech Cement is rumoured to be in advanced talks to buy Jaiprakash's 2.2Mta grinding plant in Bhilai, Chhattisgarh state, according to local press. Citing sources familiar with the matter, the reports state that the two companies are waiting for approval from state-run steelmaker Steel Authority of India Ltd (SAIL), which owns 26 per cent of the plant, before finalising the deal. In December, UltraTech agreed to acquire the Madhya Pradesh assets of Jaiprakash Associates Ltd, which ... |
HeidelbergCement reportedly in talks for Jaiprakash unit22 June 2015, Published under Cement NewsHeidelbergCement is reportedly in talks to buy Jaiprakash’s Sikandarabad unit in Uttar Pradesh, according to local media. “Heidelberg is in advanced stages of negotiations with JP Associates to buy the 1Mta Sikandarabad cement unit for around INR500 crore,” an industry source aware of the development told the Financial Express (India). Jaiprakash Associates has already ivested its cement plants in Gujarat, Madhya Pradesh, Haryana (Panipat) and Jharkhand (Bokaro) to reduce its debt pile. |
Jaiprakash reportedly in talks to sell Bhilai unit to UltraTech21 May 2015, Published under Cement NewsJaypee Group company Jaiprakash Associates is in talks with UltraTech Cement to sell its 2.2Mta cement plant in Bhilai, Chhattisgarh state, Business Standard report suggests. The Bhilai plant is a joint venture between Jaypee Group (74 per cent stake) and public sector Steel Authority of India (26 per cent). Sources say Ultratech will pay around INR2000 crore in a deal that would lift the company's overall capacity to 67Mta. When asked to comment by Business Standard, a Jaypee Group spokes... |
Jaiprakash gets shareholder go-ahead to sell to units to UltraTech19 May 2015, Published under Cement NewsJaiprakash Associates Ltd has received shareholder approval to sell two cement units in Madhya Pradesh to UltraTech Cement Ltd, the company said in a notice to the stock exchanges. In December, Jaiprakash Associates signed a deal with UltraTech Cement to sell its cement units in the central Indian state for INR54bn. The board of directors of UltraTech Cement and the Competition Commission of India have also approved the deal. |
Shree completes acquisition of Jaiprakash grinding unit, India28 April 2015, Published under Cement NewsShree Cement has completed the acquisition of a cement grinding unit of Jaiprakash Associates in Haryana state, India. “The acquisition of a 1.5Mta cement grinding unit of Jaiprakash Associates Ltd, situated at Panipat, has been consummated on April 27, 2015 for an aggregate consideration of INR358.22 crore,” Shree Cement said in a filing to the Bombay Stock Exchange yesterday. Completion of the acquisition takes Shree Cement’s capacity to 19Mta, with facilities in Rajasthan, Uttarakhand, ... |
UltraTech quarterly revenue rises 15% YoY26 January 2015, Published under Cement NewsIndia's largest cement producer, UltraTech Cement, reported a 15 per cent YoY increase in net sales for the quarter ended 31 December 2014 to INR54.9bn. Earnings before interest depreciation and tax for the three months was up 14.5 per cent to reach INR9.9bn, but profit after tax (PAT) dipped 1.6 per cent to INR3.64bn, compared to the same period of last year. For the first nine months of the current fiscal, revenues jumped 16 per cent and PAT rose seven per cent. Combined domestic ce... |
UltraTech reportedly in talks to buy further Jaiprakash units19 December 2014, Published under Cement NewsUltraTech Cement is in talks to acquire Jaiprakash Associates Ltd's cement plants in central and southern India, people with knowledge of the matter have told local press. The company is discussing the purchase of cement plants in the Indian states of Uttar Pradesh, Madhya Pradesh and Andhra Pradesh, the sources told Mint News. Last year, UltraTech purchased Jaiprakash’s cement plant in Gujarat which has a capacity of 4.8Mt. |
Competition Commission clears Shree acquisition of Jaiprakash unit19 November 2014, Published under Cement NewsThe Competition Commission of India (CCI) said it has approved a proposal of Shree Cement to acquire Jaiprakash Associates' 1.5Mta grinding unit in Haryana, saying the deal will not raise anti-competition concerns. The proposed deal involves the transfer of the cement grinding unit at Haryana's Panipat owned by Jaiprakash Associates to Shree Cements by way of a slump sale, a notification on the competition panel's website said. "The proposed combination is not likely to have an a... |
Shree Cement to acquire Jaiprakash grinding unit26 August 2014, Published under Cement NewsShree Cement has entered into an agreement to buy Jaiprakash Associates 1.5Mta cement grinding unit in the Panipat district of Haryana state in north India. The proposed sale is subject to approval of the lenders of Jaypee Associates and other concerned authorities. HM Bangur, managing director of Shree Cement, said he expects the due diligence process to be completed in two weeks.He told local media that a "shortage" of grinding units within the company' portfolio and projected domest... |