Nuvoco Vistas acquires stakes in Vadraj Energy for Rs 200 crore
Cement maker Nuvoco Vistas Corporation has acquired Vadraj Energy from JSW Cement and Alpha Alternatives Holdings in a deal inked at Rs 200 crore. As per updates, the all-cash deal is expected to be concluded within 10 days after all conditions in the agreement are met.
Nuvoco takes over Algebra Endeavour, which would allow it to control the energy company that runs power plants in Kutch and Surat. The firm would integrate these installations into its own power network to support captive consumption at its cement facilities.
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