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Ultratech drops out of race to buy Jaiprakash Associates' cement assets

Lack of agreement over valuation spurs decision; deal would have provided relief to Indian lenders, which have an exposure of Rs 28,753 crore to Jaiprakash

Topics
UltraTech | UltraTech Cement | Adani Group

Dev Chatterjee  |  Mumbai 



Ultratech cements
Mails sent to the Aditya Birla group spokesperson and Jaiprakash Associates did not elicit responses till going to press

After the group, the Aditya Birla Group-owned Cement has dropped out of the race to acquire Jaiprakash Associates’ remaining cement assets in India due to lack of agreement over valuation of the assets.

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First Published: Tue, November 22 2022. 18:19 IST

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