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Construction : Deals | October 2014 | Source : Construction Update

Jaiprakash Associates in talks with Shree Cement Ltd to sell Bhilai Cement Unit

Jaiprakash Associates Ltd is the flagship company of Jaypee Group is selling its 2.1 million tonne Bhilai Cement Unit to Shree Cement Ltd for an value of Rs 18 billion as it looks to trim debt of Rs 6 billion by disposing of assets. The deal is expected to be completed by October. Bhilai Jaypee Ltd is a JV between Jaiprakash Associates. Jaiprakash owns a 74 per cent stake in Bhilai Cement, with the rest 26 per cent stake is held by state run Steel Authority of India (SAIL).
 
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