News On Projects
Products & Services
Projects Database
Tenders Database
E - Newsletter
EPXonline.com
Project Financing
Contracts & Awards
Energy
Electricity
Mining
Oil & Gas
Infrastructure
Airport
Port
Railway
Road
Freezone
Construction
Manufacturing
Cement
Engineering
Automobile
Plastic
Metal
Textile
Paper & Packaging
Leather
Sugar
Edible Oil
Electrical & Electro
Processing
Chemical
Drugs & Pharma
Fertiliser
I-C-T
Communication
IT
Telecom
Water
Pump Station
Water Treatment
Water Supply
Hospitality
Hotel
Restaurant
Resort
Entertainment
Sports
Multiplex
Theme Park
Food & Beverages
Hospital
Service
Social
Science
Irrigation
Government
Policy
Economic Indicators
Company News
Commerce
Miscellaneous
News Uploaded On : Monday, August 17, 2015 1:38:00 PM IND Back  |  Latest Projects  |  Latest Tenders
 
 E-mail this to a friend        Printable version       Story Viewed 1660 Times
Birla Corp to acquire Lafarge India’s cement units for Rs. 5,000 crore.
Birla Corporation said it will acquire two cement units from Lafarge India having a capacity of 5.15 million tonnes per annum for Rs. 5,000 crore.

Birla Corporation said in a BSE filing said ,“It has agreed to a transaction with Lafarge India Private Ltd, whereby Birla Corp, either directly or through its wholly-owned subsidiary, shall acquire both the Jojobera and Sonadih cement businesses (Acquisition business) from Lafarge India for an Enterprise Value of Rs 5,000 crore.”

Birla said it will acquire the cement business, comprising an integrated cement unit at Sonadih (Chhattisgarh), a cement grinding unit at Jojobera (Jharkhand), along with Concreto and PSC brands.

“Acquisition business has a cement capacity of 5.15 million tonnes per annum,” it added.

The company said that upon completion of this transaction, Birla Corporation will consolidate its position in the eastern India cement market, where the demand supply scenario and outlook continue to remain buoyant.

Commenting on the transaction, Birla Corp Chairman Harsh Lodha said, “The acquisition Business together with the Concreto and PSC brands, perfectly fit into our strategic vision and ambition of enhancing our competitiveness in our chosen markets.”

The company said the transaction will be funded through exiting cash reserves and incremental debt, and is subject to approval of Competition Commission of India and other regulatory approvals.

KRISCORE Financial Advisors and SBI Capital Markets Ltd were financial advisors and Nishith Desai Associates acted as counsel to Birla Corp for this transaction.

The Hindu

Post your comments:

Your name: *
E-Mail Id:
E-mail ID will not be published
Comment: *
Maximum 500 Characters
    
Related Stories
Two more plants planned in cement-saturated South.
Birla Corp to set up clinker plant in Maharashtra
Burnpur Cement to invest Rs.500 crore for capacity expansion.
With more plants, Kajaria aims to increase footprints on its tiles
Cera forms jt venture for tile making unit.
LafargeHolcim to sell 2 plants to Birla Corp for about Rs. 5,000 cr.
Coal auction 3.0: Jaypee Cement wins Majra mine in Maharashtra.
Somany plans its south factory in Seemandhra.
JSW plans to raise cement capacity without raising cost.
Dalmia Cement Bharat forays into Maharashtra.
RELATED PROJECTS & TENDERS
ADVERTISEMENT
MOST POPULAR STORIES NOW
For all enquiries please contact
Tel: 022 - 25961254, 25960909
Mobile: 9821464666/09751178830
Mail: marketing@newsonprojects.com

OUR OTHER PRODUCTS & SERVICES:    Projects Database   |   Project e-Newsletter   |   Tenders Database   |   Commissioned Power Plants   |   Company Index
About Us   |   Contact Us   |   Terms of Use   |   Advertise with Us   |   Privacy Policy   |   Disclaimer   |   Feedback