Jaypee/Aditya Birla talks advance, India

Talks between the Jaypee Group for its sale of its Gujarat based cement units to Aditya Birla have moved into the final stages, according to local media reports, adding that valuations of the deal have continued to put hurdles in the way of the deal.

Reports that the Birla group have been negotiating for the price Jaypee Gujarat cement units and if the deal proceeds they may end up paying around US$800m. It said that the Birlas have offered US$160/t of capacity, much lower than the US$200/t paid during the deal between Holcim and ACC.