Jun 2 2017 | India Opportunities

Orient Cement signs agreement to buy Jaypee cement units

Orient Cement has agree two cement plants from Jaypee Group. The company has signed definitive agreements with Jaypee Group in this regard. Orient Cement has signed agreement to buy 74% stake in Bhilai unit of Jaypee Cements for an enterprise value of Rs 1,450 crore. The second agreement pertains to the acquisition of the Nigrie Cement Grinding Unit from Jaiprakash Power Ventures Ltd. (JPVL) at a consideration of Rs 496 crore.

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