For acquisition of 74% stake in Bhilai Jaypee Cement & acquisition of Nigrie Cement Grinding Unit
Orient Cement announced that the Company has signed the definitive agreements:(1) for the acquisition by the Company of 28,09,66,752 equity shares of Bhilai Jaypee Cement ('BJCL') from Jaiprakash Associates ('JAL') and its nominee for a for a total enterprise value of Rs. 1450 crore.
(2)for the acquisition by the Company of the Nigrie Cement Grinding Unit ('Business Undertaking') as going concern from Jaiprakash Power Ventures ('JPVL') for a total consideration of Rs. 496 crore.
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