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News Dalmia Bharat executes definitive agreements with Jaiprakash Associates to buy cement assets

Dalmia Bharat executes definitive agreements with Jaiprakash Associates to buy cement assets

Written by Global Cement staff 27 April 2023
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India: Dalmia Bharat says its has executed definitive agreements with Jaiprakash Associates to buy cement, clinker and power plants. The latest part of the acquisition process has cleared Dalmia Bharat to buy the JP Super Cement plant in Uttar Pradesh for US$183m, subject to various clearances and approvals. In addition, Dalmia Bharat has also agreed to buy a 74% share of Bhilai Jaypee Cement for an enterprise value of US$81m and is in the process of signing a seven-year lease agreement with Jaiprakash Power Ventures for its 2Mt/yr Nigrie Cement grinding plant in Madhya Pradesh. Dalmia Bharat will have the option to purchase the Nigrie unit anytime within the lease period for an enterprise value of around US$30m.

Dalmia Bharat agreed to buy selected assets from Jaiprakash Associates for US$684m in December 2022. Cement and grinding plants under the deal are situated in Chhattisgarh, Madhya Pradesh and Uttar Pradesh. The Competition Commission of India (CCI) approved the deal in February 2023.

Last modified on 03 May 2023
Published in Global Cement News
Tagged under
  • India
  • Dalmia Bharat
  • Acquisition
  • Jaiprakash Associates
  • Plant
  • JP Super Cement
  • Uttar Pradesh
  • Bhilai Jaypee Cement
  • Jaiprakash Power Ventures
  • grinding plant
  • Madhya Pradesh
  • lease
  • GCW606
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