Sunday, December 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 ...
Read More
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...
Read More