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Construction : Cement Update | November 2015 | Source : CW-India

Reliance Infrastructure to exit cement business

Reliance Infrastructure, a part of Anil Ambani-led Reliance Group has decided to exit the cement business by selling the privately held Reliance Cements. Reliance Group has recently mandated Morgan Stanley and SBI Caps to find potential buyers, as the group has decided to focus on new growth areas like defence. Earlier this year, it had plans to monetise the cement operations through a jv partner and use that cash to fund the acquisition of Pipavav Defence and Offshore Engineering, but this did not generate sufficient interest.

Contact: Reliance Infrastructure.
Tel: 022-3009 8909.

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