NEW DELHI: India’s UltraTech Cement Ltd, part of the Aditya Birla conglomerate, said on Sunday it had agreed to buy Jaiprakash Associates Ltd’s cement plants for an enterprise value of 165 billion rupees (US$2.4bil).
UltraTech, beating competition from domestic and international bidders for the assets, said in a statement it had signed a memorandum of understanding with Jaiprakash to acquire plants whose capacity totalled 22 million tonnes a year.
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