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News Dalmia Bharat’s Jaypee Cement acquisition delayed to mid-late 2024

Dalmia Bharat’s Jaypee Cement acquisition delayed to mid-late 2024

Written by Global Cement staff 26 April 2024
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India: Dalmia Bharat expects to conclude its acquisition of Jaypee Cement by the end of September 2024, six months later than previously anticipated. The Hindu Business Line newspaper has reported that the group attributed the postponement to ‘procedural delays,’ including pending approvals from banks, on-going arbitration between Jaiprakash Associates and UltraTech Cement and some ‘lack of clarity’ around existing joint ventures between Jaiprakash Associates and state-owned Steel Authority of India.

Dalmia Bharat said “We are progressing in the right direction. These are procedural delays over which we have no control.”

Last modified on 30 April 2024
Published in Global Cement News
Tagged under
  • Jaypee Group
  • Dalmia Bharat
  • India
  • Jaiprakash Associates
  • Acquisition
  • Finance
  • UltraTech Cement
  • Steel Authority of India
  • corporate
  • Dispute
  • GCW657
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