Friday, November 22

Tag: ultratech cement

UltraTech to Buy Century’s Textile Cement Business in a Share Swap Deal
21May By Lavina TolaniNo Comments
BUSINESS

UltraTech to Buy Century’s Textile Cement Business in a Share Swap Deal

Aditya Birla Group Company UltraTech Cement has announced to buy the cement business of Century Textiles and Industries through a share swap deal that will make the company third largest player globally (Excluding China) crossing the 100-million-tonne capacity. The deal is proposed to involve an enterprise value of Rs 8,621 crore that includes a debt of Rs 3,000 crore. As per the latest Board Meeting of the company, an approval has been sought for a scheme of arrangement amongst Century Textiles and Industries and its respective shareholders and creditors and will likely complete before the end of this year. As a part of the deal, Century Textiles will first separate the cement division and then the demerged company will be combined with UltraTech. Shareholders of UltraTech will get ...
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UltraTech to Buy Jaiprakash Cement Plants For $2.4 Billion
28Feb By reutersNo Comments
ACQUISITION

UltraTech to Buy Jaiprakash Cement Plants For $2.4 Billion

UltraTech Cement Ltd , part of the Aditya Birla conglomerate, said on Sunday it had agreed to buy Jaiprakash Associates Ltd's cement plants for an enterprise value of 165 billion rupees ($2.4 billion). UltraTech, beating competition from domestic and international bidders for the assets, said in a statement it had signed a memorandum of understanding with Jaiprakash to acquire plants whose capacity totalled 22 million tonnes a year. The agreement will increase India's biggest cement maker's installed capacity by one-third to 90.7 million tonnes annually, and provide infrastructure firm Jaiprakash with much-needed relief to pare its debts. Other companies interested in Jaiprakash's plants included Irish building materials group CRH and India's Dalmia Cement, sources told Reuters th...
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