Birla Corporation signed an agreement with French-based Lafarge Group to acquire its Jojobera unit in Jharhkand(Ranchi) and Sonadih in Chattisgarh for a sum of FIve thousand crore rupees on 17 August 2015.
Transaction will be funded through the existing cash reserves and the incremental debt and is subject to approvals, including clearance from the Competition Commission of India (CCI).
Birla Corporation will acquire these cement units along its brands Concreto and (PSC) and also its management team. These 2 plants have total cement capacity of 5.15 million tonnes per annum mtpa and have adequate reserves of limestone.
The Lafarge disinvested from these Two units in order to fulfil the directions given by the Competition Commission of India (CCI) as a part to conclude its mega global merger with Swiss-based Holcim Ltd. and its operations in Indian In July 2015.
Birla Corporation signed an agreement with French-based Lafarge Group
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