Dalmia Bharat announces acquisition of balance 26% in Bokaro Jaypee Cement

From Steel Authority of India

Dalmia Bharat announced that its subsidiary Company, Dalmia Cement (Bharat) through its ultimate subsidiary, on 28 November 2014 has acquired the balance 26% stake in Bokaro Jaypee Cement (BoJCL) from Steel Authority of India.

Upon this acquisition, BoJCL will become wholly owned subsidiary of the ultimate subsidiary of Dalmia Cement (Bharat). The total consideration for 100% acquisition of BoJCL is same as that of the earlier 74% purchased from Jaiprakash Associates (i.e. aggregate Enterprise Value of Rs 1150 crore for 100% stake).

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