Cement News tagged under: Jaypee Group
Dalmia Bharat to acquire Jaiprakash Associates Ltd13 December 2022, Published under Cement NewsFollowing CemNet's Jaiprakash Associates Ltd news story on Monday , Dalmia Bharat Cement has announced the acquisition of the cement assets of Jaypee Group 's flagship company Jaiprakash Associates Ltd (JAL) and its associate company's at an enterprise value of INR56,660m (US$). In a regulatory filing, Dalmia Bharat informed that its wholly-owned subsidiary Dalmia Cement (Bharat) Ltd (DCBL) has entered into a "binding framework agreement for the acquisition of clinker, cement and po... |
Jaiprakash Associates convenes divestment meeting12 December 2022, Published under Cement NewsJaiprakash Associates ( Jaypee Group ) has informed that a board meeting has been convened to apprise the board of the recommendations of the audit committee and the progress on the various divestment initiatives. Jaypee Power Ventures (Jaypee Group) will hold a board meeting on Monday, 12 December to consider a proposal to divest its Nigrie cement grinding plant in Madhya Pradesh. In a regulatory filing, Jaypee Power Ventures informed that a board meeting has been convened on Monday t... |
UltraTech Cement stalls on plant purchase04 July 2022, Published under Cement NewsUltraTech Cement has reportedly done a U-turn on its agreement to purchase a cement plant from Jaiprakash Associates. The 3Mta plant formed part of UltraTech's acquisition of six integrated cement plants and five grinding units from the Jaypee Group , at a total cost of INR161,890m (US$2.4bn). A number of environnmental clearances were pending related to the plant, according to The Economic Times. Both companies agreed that the final date for payment for the plant would be 30 June 2022... |
Orient Cement terminates agreement with Jaypee Group firms31 May 2018, Published under Cement NewsIndia’s Orient Cement has terminated the agreement to acquire two assets, Bhilai Jaypee Cement Ltd and the Nigrie cement grinding unit, from Jaypee Group firms for a total investment of INR19.46bn (US$288.23m), according to the Hindu Business Line. Orient Cement had signed a share purchase agreement (SPA) with Jaiprakash Associates Ltd (JAL) for 74 per cent equity shares of Bhilai Jaypee Cement. Furthermore, the company had signed a business transfer agreement (BTA) with Jaiprakash Power V... |
UltraTech Cement28 March 2017, Published under Cement NewsEarly March saw Jaiprakesh Associates, part of the Jaypee Group, get the go-ahead from the National Company Law Tribunal (NCLT) to transfer its cement plants to UltraTech cement, part of the Aditya Birla Group, on a slump exchange basis – a method widely used in India for the sale or transfer of a complete business division of a company as a going concern, including all assets, liabilities, contracts and employees. The deal, announced last year and valued at INR160bn (US$2.4bn), will enab... |
UltraTech Cement02 August 2016, Published under Cement NewsUltraTech has at last agreed terms with Jaypee Group for the acquisition of Jaypee’s cement interests. UltraTech is paying some US$2400m for the acquisition of 17.2Mta of cement capacity across five states as well as a 4Mta grinding plant currently under construction in Uttar Pradesh. The deal still requires the approval of shareholders, creditors hand the High Court and should be completed within 12 months. UltraTech has recently commissioned a new grinding centre at Pataliputra in Bihar... |
India: UltraTech concludes Jaypee deal05 July 2016, Published under Cement NewsUltraTech Cement has struck a deal to obtain the cement assets of Jaypee Group with a last-minute increase in acquisition price on Monday. UltraTech will purchase Jaypee Group’s cement operations, that have a total capacity of 17.2Mta spread across Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh, for INR161.9bn (US$2.4bn). In addition to existing cement operations, UltraTech will also acquire the 4Mta grinding unit that is currently being constructed in Utt... |
India: Jaypee Group debts threaten cement unit sale04 July 2016, Published under Cement NewsCreditors of Indian conglomerate Jaypee Group have invoked debt restructuring provisions that allow them to convert loans into equity, turning them into the firm’s majority shareholders, reports the Economic Times. Jaypee Group is struggling under debts of INR582.5bn (US$8.7bn) and had agreed to sell its cement unit to UltraTech Cement to raise capital. Following the move by banks, UltraTech is understood to have written to the Gaur family – who founded and still run Jaypee – questioning ... |
India: Jaypee Group still needs to reduce its debt level21 June 2016, Published under Cement NewsFor the promoters of Jaypee group, the aggressive expansion during the last decade has cost them dearly. The Delhi-based group had to sell profitable assets to remain afloat even as banks, alarmed by its defaults, are pressurising the group to put more assets on the block, writes the Business Standard. A senior banker with Mumbai-based public sector lender said the intent of Jaypee group to reduce debt level is genuine as evident from the sale of operating key operating assets like power p... |
India: Jaypee reduces northern cement supply22 April 2016, Published under Cement NewsDebt-laden Jaiprakash Associates Ltd has withdrawn itself from some of its cement markets in north India as part of streamlining its operations even as lenders continue to prod the firm to shed assets and pare debt, reports Mint. The company has drastically cut its cement supply to markets in the north, said two Delhi-based cement dealers. A spokesperson for the parent Jaypee Group confirmed that the company has chosen to withdraw from certain markets of Haryana and Delhi. "The com... |