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Construction : Newsmakers | May 2016 | Source : CW-India

Big acquirer

In one of the biggest deals in the domestic cement industry, Jaypee Group has announced part-sale of its cement business to Kumar Mangalam Birla-led UltraTech for Rs 15,900 crore. Chairman Birla, who has taken the Aditya Birla Group to an altogether higher growth trajectory, is known to have made major acquisitions, the most notable being the Cement division of Larsen & Toubro, Indal from Alcan, Madura Garments from Coats Viyella and the Chlor Alkali division of Kanoria Chemicals. The trasaction with Jaypee Group will further strengthen UltraTech's position as the biggest cement player in the country, after gaining an overall capacity of 21.2 mtpa from Jaypee's cement plants across five states and a grinding unit in Uttar Pradesh. Post this deal, the capacity of UltraTech will rise to 91.1 mtpa, including its overseas operations. With Birla being at the helm of the group, accelerated growth is a sure thing.
 
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