The cement company is planning to divest entire cement capacity
India-based Jaypee Cements two cement assets are likely to be folded into a larger deal under which it seeks to divest entire cement capacity, reports Live Mint.
UltraTech Cements INR 5,400 crore acquisitions of two cement assets from Jaiprakash Associates will not be a stand-alone deal. Jaypee Cements two cement assets in Madhya Pradesh with a combined capacity of producing about 5 million tons of the building material will be folded into a larger transaction.
UltraTech Cements, is one of the three potential bidders for the nearly 20 million tons cement production capacity of Jaiprakash Associates, which is trying to raise funds to repay debts.