French cement maker Vicat has emerged as a surprise frontrunner to acquire a cement unit of southern conglomerate Shriram Group. Vicat is expected to buy controlling shares in Sree Jayajothi Cements Ltd, which is a part of Shriram Ventures, the holding entity of the group's non-financial services businesses, valued at about US$250m.
The US$3bn French MNC surged into the fray after Shriram's deal-making with private equity giant Blackstone collapsed two months ago. Blackstone was close to acquiring Sree Jayajothi but pulled out last minute owing to differences.

Carbon Clean completes first industrial deployment of CycloneCC
Carbon Clean has announced the successful completion of the world’s first industrial deployment ...