Cement News tagged under: Jaypee Cement Corporation

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India: UltraTech completes deal to buy Jaypee Cement

13 June 2014, Published under Cement News

Jaypee Cement Corporation unit in Gujarat, India, will come into UltraTech Cement's possession following approval for the acquisition from the Bombay and Ahmedabad High Courts. The deal includes the 4.8Mta cement plant with a 57.5MW coal-based thermal power plant, limestone reserves for over 90 years and a captive jetty at Sewagram for an enterprise value of INR38000m (US$637.8m). The company has already received the approval of capital market regulator SEBI, shareholders and creditors. As...

CRH announces termination of negotiations in India

10 October 2012, Published under Cement News

CRH plc announced that it has terminated negotiations with Indian cement producer Jaypee Cement Corporation (Jaypee) regarding the possible purchase by CRH of an equity stake in Jaypee’s Gujarat cement business. CRH said these negotiations were  terminated as the parties were unable to agree terms. The Irish-based building materials major said that it acknowledges the co-operation of the Jaypee management team throughout the negotiations and due diligence process. CRH confirmed back in A...

Jaiprakash to hive off cement company, India

28 February 2012, Published under Cement News

Jaiprakash Associates will hive off its cement plants and other units of the company to wholly-owned subsidiary, Jaypee Cement Corporation, the Economic Times of India reports. "We are pleased to inform that the equity shareholders and creditors of the company, in their respective meetings held on February 25, have duly approved the scheme of arrangement," Jaiprakash Associates said in a statement to the Bombay Stock Exchange (BSE). Cement is one of the major businesses of Jaiprakash Asso...