India’s SreeJayajothi Cements bought by CRH for INR 14bn

SreeJayajothi Cements of India has been acquired by CRH of Ireland for INR 14 billion (€172.44 million) through joint venture with My Home Industries. The Indian cement company is a subsidiary of Shriram Group. SreeJayajothi Cements would use money generated from the deal to retire close to INR 9 billion debt and the remaining would be shared by the Jayavilas Group and Shriram Group. The acquisition of SreeJayajothi Cements allows Shriram Group and Jayavilas Group to completely exit the former. Jayavilas Gr
August 13, 2013 Read time: 1 min

SreeJayajothi Cements of India has been acquired by 723 CRH of Ireland for INR 14 billion (€172.44 million) through joint venture with My Home Industries.

The Indian cement company is a subsidiary of Shriram Group. SreeJayajothi Cements would use money generated from the deal to retire close to INR 9 billion debt and the remaining would be shared by the Jayavilas Group and Shriram Group.

The acquisition of SreeJayajothi Cements allows Shriram Group and Jayavilas Group to completely exit the former.

Jayavilas Group is a minority shareholder in SreeJayajothi Cements.

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