Cement News tagged under: Sree Jayajothi Cements

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CRH to acquire Sree Jayajothi Cements, India

12 August 2013, Published under Cement News

CRH has announced that its 50:50 joint venture in India, My Home Industries Limited (MHIL) has reached an agreement to acquire 100 per cent of the shares of Sree Jayajothi Cements Limited (SJCL), a 3.2Mta cement company based in south India for INR14,000m (EUR175m). The investment will be financed from MHIL’s existing debt capacity and by equity inputs from the joint shareholders (EUR70m). CRH’s equity interest will amount to approximately EUR35m. With the addition of SJCL, MHIL b...

CRH likely to acquire Shriram Group cement business - report

25 July 2013, Published under Cement News

Irish building materials major CRH is likely to acquire the cement arm of the Shriram Group, Sree Jayajothi Cements, three sources have told the Economic Times of India. The deal is likely to be announced “soon” according to one of the sources, adding that the “enterprise value of Sree JayaJothi Cements has been pegged at around INR1500 crore.” CRH is expected to pick up the stake through its Indian unit My Home Industries, a joint venture it has operated since 2008 with the My Home Group...

CRH – acquisition key to growth

07 January 2013, Published under Cement News

A development spending update released yesterday by CRH shows that growth through vertical integration continued to be a key strategy for the Irish building materials major through 2012. But with spending still subdued compared to 2006 peaks levels, will 2013 see the company step up its acquisition activity and which markets offer the potential for takeover opportunities? In its twice-yearly development statement, CRH said it closed 2012 with acquisitions and investments reaching almost EU...

Shriram aims to raise Jayajothi Cements’ utilisation

10 July 2012, Published under Cement News

Indian engineering company Shriram EPC, which earlier this year acquired a majority stake in Sree Jayajothi Cements, plans to raise the cement plant’s capacity utilisation to 100 per cent.  In March this year, Shriram EPC was forced to buy the 70 per cent stake in its debtor Sree Jayajothi Cements which couldn't pay back its dues. Shriram's debt was converted to equity. Jayajothi Cements currently has a 3.2Mta integrated works situated in Kurnool district in Andhra Pradesh, southeast Indi...

KKR eyes stake in Sree Jayajothi Cements, India

28 June 2012, Published under Cement News

Private equity firms Blackstone Group and Kohlberg Kravis Roberts & Co (KKR) are discussing a large stake buy in the cement unit of the Shiram Group, the Times of India reports. Shriram EPC, which took controlling stake in Andhra Pradesh-based Sree Jayajothi Cements, plans to raise more than INR400 crore to boost operations. KKR already holds a stake in another Indian producer, Dalmia Cements. Another US private equity Mount Kellett also met with Shriram on the potential investment oppo...

Shriram to consolidate presence in Indian cement sector

24 May 2012, Published under Cement News

Shriram EPC, a publicly held company of Shriram Group, recently entered the cement sector by acquiring majority stake in Sree Jayajothi Cements and, according senior officials, a blueprint is being prepared to see how they can grow in this sector, The Business Standard of India reports that as a first step, Shriram EPC which controls Sree Jayajothi Cements, is raising INR400 crore through the private equity (PE) route for deployment in the cement firm. Senior officials of Shriram Group co...