Dalmia Bharat to acquire cement business of Jaiprakash Associates
Business conglomerate Dalmia Bharat is set to acquire the cement business of Jaiprakash Associates from the Adani Group. The deal is done for an enterprise value of Rs 2,850 crores.
As a part of the deal, Dalmia Bharat will acquire Jaiprakash Associates's 5.2 million tonnes of cement capacity and 3.3 million tonnes of clinker capacity based in Madhya Pradesh and Uttar Pradesh. The firm will also acquire 99 MW of thermal power capacity, a railway siding at Rewa and Chunar, along with a common railway siding at Churk.
As per ETInfra.com, the firm is in the midst of capacity expansion at Belgaum, Pune, and Kadapa, along with the acquired units at Rewa, Churk, Chunar, and Sadwa.
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