Correct Answer : Dalmia Cement
The Jaypee Group on Monday(12th Dec 2022) said that a binding agreement had been signed to sell the group’s cement business to Dalmia Cement (Bharat) Ltd at an enterprise value of Rs 5,666 crore.
* The binding agreement has been signed by Jaiprakash Associates and Jaiprakash Power Ventures.
* The divestment includes cement plants with an aggregate capacity of 9.4 million tonne, clinker assets with a capacity of 6.7 million tonne, and 280 MW capacity thermal power plant, the Jaypee Group companies said.
* Proceeds from the divestment of the cement assets to Dalmia Bharat will be primarily used to repay Jaiprakash Associates’ debt.
* The cement and clinker capacities currently being sold to the
Dalmia Group are situated in
Madhya Pradesh,
Uttar Pradesh, and
Chhattisgarh..
Source : Economictimes
