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Dalmia Bharat to acquire Jaypee Group's cement assets for Rs.5,666-Cr

BSE Disclosure   Press Release  

Dalmia Cement (Bharat) Ltd (DCBL), a wholly-owned subsidiary of publicly listed Dalmia Bharat Ltd, is to acquire cement, clinker and power plants from Jaiprakash Associates Ltd (JAL) and its associate, having total cement capacity of 9.4 MnT, clinker capacity of 6.7MnT and thermal power capacity of 280MW, for INR 5,666 crore. The plants are located at Madhya Pradesh, Uttar Pradesh, and Chhattisgarh. The acquisition will enable DCBL to expand its footprint into central India. The company plans to emerge as a pan-India cement company with a capacity of 75 MnT by FY27. JAL would use the proceeds from the divestment to repay debt. Coeus Advisors assisted JAL as transaction advisor. EY acted as the Financial & Tax Advisor and Vaish Associates as the Legal Advisor for the transaction.