Birla Corporation to acquire cement business from Reliance Infrastructure

For an enterprise value of Rs 4800 crore

Birla Corporation announced an agreement with Reliance Infrastructure for acquisition of its entire cement business for an enterprise value of Rs 4800 crore. The two companies have agreed that Birla Corporation shall acquire all of the shares of Reliance Cement Company. The transaction is subject to approval of the Competition Commission of India and other relevant regulatory authorities. It would be funded through existing cash reserves and incremental debt.

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