India: UltraTech in talks to acquire further Jaypee assets – report

UltraTech Cement is in preliminary talks to acquire the Jaypee Group’s cement assets in Solan, Himachal Pradesh state, according to local media citing two sources familiar with the situation.

The assets include an integrated cement plant and a grinding and blending unit.

Two European companies were also reported to be in the race to but talks have have failed, one of the two people, a senior executive at one of the companies, said.

In September 2013, UltraTech acquired Jaypee’s cement assets in Gujarat, which comprised an integrated cement unit at Sewagram and grinding unit at Wanakbori.