A tug of war between UltraTech Cement Ltd and Dalmia Bharat Ltd over the acquisition of Binani Cement Ltd’s assets has intensified. In the latest twist, UltraTech Cement has offered to pay Rs7,266 crore to acquire...
Bankruptcy case: UltraTech to pay Rs 73 bn for 98% stake in Binani Cement
It was a day of high drama in the Binani Cement bankruptcy case with promoter Binani Industries entering into an agreement to sell the cement company’s shares to UltraTech Cement, even as the National Company Law...
UltraTech to raise Binani bid by Rs 700 crore
Aditya Birla Group-owned UltraTechBSE 0.37 % Cement will increase its bid for Binani CementBSE 0.06 % by Rs 700 crore to Rs 7,200 crore, even as the bankrupt company’s committee of creditors on Wednesday approved the...
UltraTech moves NCLT over assessing bids
After the Dalmia Bharat group won Binani CementBSE 0.06 % in a closely fought and multi-cornered battle for the debt-laden buildings material company, the Indian market leader UltratechBSE -0.02 % Tuesday approached the...
UltraTech Cement closer to acquiring Binani; seeks CCI nod for takeover
UltraTech Cement is leading the race to take over Binani Cement by offering around Rs 62 billion and a 20 percent stake in the company to unsecured financial creditors. Dalmia Bharat Cement had made a slightly better...
UltraTech completes acquisition of Jaiprakash group cement business
UltraTech Cement has completed the Rs 16,189 crore acquisition of Jaiprakash Associates’ six integrated cement plants and five grinding units, having a capacity of 21.2 million tonnes. The scheme implementation...
Jaypee, UltraTech Cement looking to seal Rs16,189 crore deal by July
The Aditya Birla group’s Ultratech Cement Ltd’s Rs16,189 crore acquisition of the cement business of Jaiprakash Associates Ltd is expected to be completed soon, a top group executive said in an interview. “The...
LafargeHolcim lays ground for merger of ACC and Ambuja, gets closer to rival UltraTech
Cement giant LafargeHolcim has initiated a process that could lead to the union of its Indian operations ACCBSE 0.06 % and Ambuja Cement, following months of speculation that this could be happening. ACC is evaluating a...
UltraTech’s acquisition of JP Cement plants in a year: Kumar Birla
MUMBAI: Aditya Birla Group-owned UltraTechBSE 0.89 %’s is expected to complete its acquisition of Jaiprakash Associates’ cement plants within the next one year, group chairman Kumar Mangalam Birla said at...
Jaypee salvages UltraTech cement deal, loses control of Jaiprakash Associates
Mumbai: In an important board meeting on Monday, the promoters of the debt-strapped Jaypee Group managed to salvage a deal that involved the sale of the conglomerate’s cement assets to UltraTech Cement Ltd, but lost...
UltraTech’s Rs15,900 crore Jaypee cement deal hits a hurdle
Mumbai: UltraTech Cement Ltd’s Rs.15,900 crore deal to buy the cement assets of debt-laden Jaiprakash Associates Ltd has run into a snag over the latter’s failure to meet some commitments linked to the transaction, said...
Cementing a Deal: UltraTech Buys JP Cement
After selling its cement business to UltraTech, JP can now concentrate on its core business and reduce the piling debt from its books The cement industry is reporting a series of small and mid-sized acquisitions as it...