Adani Group is in advanced talks to acquire the cement unit of Jaiprakash Power Ventures Ltd, part of Jaiprakash Associates Ltd, according to Mint.
The group is expected to pay around INR50bn (US$607m) for a 2Mta grinding unit in Nigrie, Madhya Pradesh, along with other smaller assets. The deal will not only help lower debt for Jaiprakash Power Ventures Ltd but also solidify Adani’s place in the cement industry, having already acquired Ambuja Cements Ltd and ACC Ltd from Holcim for US$10.5bn, making Adani India’s second-largest cement producer.
