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Under the revised deal, UltraTech will buy 21.2 million tonnes of cement capacity from Jaiprakash as the companies have mutually agreed to exclude a 1.2 million tonnes a year plant …


NEW DELHI: Ultratech Cement today said it has called off a deal with Jaiprakash Associates (JAL) to acquire its two plants in Madhya Pradesh for an enterprise value of Rs 5,400 crore. "The Bombay High Court has indicated that based on the recent amendments in the provisions of the Mines and Minerals Act, 1947 (MMDRA), preventing transfer of mines granted other than through …


PTI. New Delhi: Aditya Birla Group firm UltraTech Sunday announced acquisition of debt-ridden JP Group's cement plants for nearly Rs 17,000 crore (about USD 2.5 billion), making it the biggest deal in the sector. UltraTech Cement said it entered into a binding Memorandum of Understanding with Jaiprakash Associates Limited for the acquisition of ...


UltraTech Cement Ltd will buy Jaiprakash Associates Ltd's cement plants for 159 billion rupees ($2.4 billion) including debt, the companies said in a revised deal …


As part of the deal, UltraTech will take over JP Associates debt of ₹12,000 crore along with ICICI Bank debt of ₹5,300 crore and get access to operate six integrated cement plants and five ...


Key details of the deal: • As per the deal, Ultratech will get operational capacity of 18.4 mtpa from Jaiprakash Associates Ltd. • Ultratech will spend Rs.4.70 bn on the completion of ongoing addition of 4 mtpa at Bara plant, Madhya Pradesh. • The acquisition is valued at an enterprise value of US$110/tonne, which is below replacement cost


Aditya Birla Group firm UltraTech today announced the acquisition of debt-ridden JP Group's cement plants for nearly Rs 17,000 crore (about $2.5 billion), making it …


UltraTech, part of the Aditya Birla conglomerate, will have a total capacity of 91.1 million tonnes after the deal, which is expected to take about a year to consummate. Jaiprakash has been selling assets to pare its debt. After the latest sale, it will retain cement plants with a total capacity of 10.6 million tonnes, it said.


Mumbai, Feb. 28: Aditya Birla Group company UltraTech today announced the acquisition of debt-ridden JP Group's cement plants at an enterprise value of Rs 16,500 crore, just days after the two companies agreed to sever an agreement on the purchase of Jaypee's two cement plants.. In the biggest deal in the sector, UltraTech Cement said it had entered into a binding MoU with Jaiprakash ...


ET first reported that UltraTech was a suitor for the assets in December 2015. The deal announcement comes two days after UltraTech called off a deal with Jaiprakash Associates to buy two cement assets in Madhya Pradesh citing regulatory issues. Both parties had entered into a scheme of arrangement for the plants in December 2014.


NEW DELHI: Debt-ridden. Jaiprakash Associates. today announced the part sale of its cement business to the Kumarmangalam Birla-led Ultratech for Rs 15,900 crore, marking the biggest consolidation in the cement sector. However, the size of the deal announced last month has been reduced from Rs 16,500 crore as Jaiprakash Associates Ltd (JAL ...


JP Associates sheds NPA tag with cement biz sale. Jun 30, 2017· Cement major Jaiprakash Associates concluded formalities for the biggest sale in the cement sector by selling off six integrated cement plants and five grinding units of Jaypee Cement with a total capacity of 21.2 million tonne to Aditya Birla-promoted UltraTech.


Concrete Trouble India's largest cement-maker UltraTech Cements Ltd. (UT) had to call off a Rs 5,325 crore deal to buy Jaiprakash Associates Limited's (JP) two cement plants in Madhya Pradesh (5 MTPA) as the Bombay High Court rejected the scheme of …


UltraTech Cement, India's largest cement maker and part of the Aditya Birla Group, on December 24, 2014, said its board has approved to acquire two cement plants of Jaiprakash Associates in Madhya Pradesh for an enterprise value of Rs. 5,400 crore.The transaction, which is subject to due diligence, definitive agreements, and regulatory approvals, will strengthen UltraTech's position as the ...


The deal with UltraTech does not include 2.1-million tonne cement plant at Bhilai, for which talks are on with Shree Cement. The sale of cement businesses is …


UltraTech in July last year said it will acquire Jaiprakash Associates' cement plants, with a total capacity of 21.2 million tonnes per annum, in …


The deal size was Rs 15,900 crore. UltraTech had also agreed to pay an additional Rs 470 crore to Jaiprakash Associates to complete its grinding unit in UP."Jaypee group has taken efforts to sell off its assets like its hydro-power project and thermal power plants last year. Ultra Tech was keen to take over the entire cement portfolio of ...


UltraTech has now 18 Integrated Plants, one clinkerisation unit, 25 grinding units and 7 bulk terminals, augmenting its grey cement manufacturing capacity to 93 MTPA. "This transaction, valued at Rs 16,189 crore, is the largest deal to be concluded so far, involving a major financial restructuring programme," the company said.


UltraTech's Rs15,900 crore Jaypee cement deal hits a hurdle Premium Under the cement deal with Jaiprakash Associates, UltraTech Cement was to purchase 21.2 million tonnes in cement capacity ...


10. The deal would give UltraTech Cement a significant presence in the key western Indian markets as well as access to a jetty that would enable it to ship cement to new markets. Shares of UltraTech rose 1.37 percent at Rs 1,756 and JP Associates in down 7 percent at Rs 40.45. The Sensex is down 0.5 percent at 19,894.


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UltraTech Cement - Wikipedia

UltraTech Cement Limited is an Indian cement company based in Mumbai.It is a subsidiary of the Indian multinational conglomerate, Aditya Birla Group. Ultratech is the largest manufacturer of grey cement, ready mix concrete (RMC) and white cement in India with an installed capacity of 116.75 million tonnes per annum, and is the only company in the world to have a capacity of over 100 million ...


MUMBAI (Reuters) - UltraTech Cement(ULTC.NS) has agreed to buy two cement plants from Jaiprakash Associates (JAIA.NS) for 54 billion rupees ($852 million) including debt, the companies said on ...


The plant is a joint venture between Jaypee Group (74 per cent stake) and public sector Steel Authority of India (26 per cent). If the deal succeeds, this would be the third plant India's largest cement maker UltraTech would be buying from the Jaypee Group in about a year and a half.


The move comes two days after UltraTech called off a Rs.5400-crore deal to buy Jaiprakash Associates' (JAL) 2.1 mtpa cement plant in Madhya Pradesh as new MMDR Act 2015 barred transfer of mines ...


The issue will be discussed at UltraTech's annual general meeting scheduled for tomorrow in which Group Chairman Kumar Mangalam Birla will address the shareholders highlighting the industry issues ...


Mumbai, 29 th June, 2017 UltraTech Cement completes acquisition of Cement plants of Jaiprakash Associates Limited . The Scheme Implementation Committee of the Board of Directors of UltraTech Cement Limited, an Aditya Birla Group company, at its meeting held today, have made effective the Scheme of Arrangement between UltraTech, Jaiprakash Associates Limited (JAL), Jaypee Cement …


However, the size of the deal announced last month has been reduced from Rs 16,500 crore as Jaiprakash Associates Ltd (JAL) decided not to sell its cement plant in Karnataka with a …


Jaiprakash Associates previously agreed to sell three cement plants to Orient Cement in mid-2017 but this deal was cancelled after a delay of one year. Prior to this the company sold six integrated cement plants and five grinding plants to UltraTech Cement for US$2.5bn in 2017.


Mumbai: The Scheme Implementation Committee of the Board of Directors of UltraTech Cement Limited, an Aditya Birla Group company, at its meeting held today, have made effective the Scheme of Arrangement between UltraTech, Jaiprakash Associates Limited (JAL), Jaypee Cement Corporation Limited (JCCL) and their respective shareholders and creditors, ("Scheme") for the acquisition of their …


Aditya Birla Group firm UltraTech announced acquisition of debt-ridden JP Group's cement plants for nearly Rs 17,000 crore (about USD 2.5 billion), making it the biggest deal …


Jaypee Associates' Rs 3,800 crore deal to sell its Gujarat cement units to UltraTech is a distress sale. For one, the company has been trying desperately to sell its cement business in order to cut its debt pile of Rs 55,000 crore. Moreover, the valuation is at a huge discount to the earlier estimates of Rs 4,500 crore.


India's largest cement-maker UltraTech Cements Ltd. (UT) had to call off a Rs 5,325 crore deal to buy Jaiprakash Associates Limited's (JP) two cement plants in Madhya Pradesh (5 MTPA) as the Bombay High Court rejected the scheme of arrangement citing the new MMDR Act as the prime reason.


UltraTech will take over a total debt of Rs 3,800 crore, and pay Rs 150 crore in equity. The deal is a pointer to how cement businesses are shaping in India. In …