Three bidders for India-based Jaiprakash Associates’ cement assets

Two private equity firms and a strategic partner are reportedly submitting bids for cement operations under Jaiprakash Associates, the flagship company of India's Jaypee Group, for an enterprise valuation approaching INR 195 billion (US$2.93 billion). A source told Business Standard, India's leading business site for Live Markets, that the sale would be completed by March 2015. Jaiprakash is said to be seeking to pare down its INR 612.85 billion ($9.16 billion) debt - as of 2014/15 - and has already sol

December 9, 2015 Read time: 1 min

A source told Business Standard, India's leading business site for Live Markets, that the sale would be completed by March 2015. Jaiprakash is said to be seeking to pare down its INR 612.85 billion ($9.16 billion) debt - as of 2014/15 - and has already sold 13.3 million tonnes of cement capacity for the purpose. The company's current cement capacity is 31.65 million tonnes. ICICI Securities is managing the sale.

Quarry Products

India’s UltraTech to acquire Jaypee cement plants

UltraTech Cement in India has agreed to buy 21.2 million tonnes/year of cement capacity from Jaiprakash Associates (flagship of the Jaypee Group) for INR 159 billion (€2.13 billion US$2.38 billion).

The deal covers cement plants in Andhra Pradesh, Madhya Pradesh, Himachal Pradesh, Uttar Pradesh and Uttarakhand, but not the 1.2 million tonnes/year plant in Karnataka originally considered. This takes about INR 6 billion off the previously estimated transaction size.

Some 4 million tonnes/year the 21.2

August 9, 2012

CRH in cement talks with Jaypee

June 23, 2015

India’s Jaiprakash Associates to sell cement plant to HeidelbergCement

HeidelbergCement is reportedly acquiring a cement plant in Uttar Pradesh in India from India-based Jaiprakash Associates for about US$78.76 million (INR 5 billion). An industry source familiar with the issue is said to have told India-based English language newspaper The Financial Express that the German cement sector giant is currently in advanced talks with Jaiprakash Associates to acquire the 1 million tonne/year cement unit.

September 22, 2014

Companies line up to bid for Lafarge/Holcim assets

CRH, the Irish cement maker is said to be exploring a bid for all the assets rivals Lafarge and Holcim must sell to steer their mega-merger past competition watchdogs, two sources familiar with the matter told Reuters.

Four consortia of private equity companies are also reported to be eyeing the whole portfolio, with bids valuing the assets at €5 billion to €7 billion (US$6.5 billion-US$9 billion) expected soon, the sources said.

Blackstone, Cinven and Canadian pension fund CPP are set to bid jointly

November 11, 2015

Reliance Infrastructure of India plans to sell cement and roads business

India-based Reliance Infrastructure is looking to sell its cement and roads businesses by March 2016, to focus on future defence sector opportunities. CEO MS Mehta said due diligence has already started on both units, and the company expects valuations in line with the last few cement industry transactions. The roads business may be sold to a foreign fund that has liquidity and plans long haul investment in India’s infrastructure.

Mehta said Reliance has received 15 preliminary expressions of interest a