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Jaiprakash Associates signs definitive agreement with Orient Cement

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Capital Market
Last Updated : May 31 2017 | 2:01 PM IST

For sale of 74% stake in Bhilai Jaypee Cement

Jaiprakash Associates has executed today a definitive agreement with Orient Cement (OCL), a part of CK Birla Group, as authorized by the Board of Directors of the Company on 6 October 2016 for acquisition by OCL of Company's 74% equity stake in Bhilai Jaypee Cement (BJCL) based on an Enterprise Value of Rs. 1,450 crore on a cash free and debt free basis and subject to adjustments on account of Working Capital, if any and subject to approval of SAIL, approval of lenders of BJCL besides other statutory & regulatory approvals, as applicable.

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First Published: May 31 2017 | 1:44 PM IST

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