Dalmia Bharat acquires SAIL's 26pc stake in Bokaro cemet unit

Diversified company Dalmia Bharat has acquired the remaining 26 per cent stake in Bokaro Jaypee Cement from SAIL, taking total control of the 2.1 million tonne (MT) cement unit in Jharkhand.
Bokaro Jaypee Cement was formed as a 74:26 joint venture between Jaiprakash Associates and Steel Authority of India (SAIL).
"The total consideration for 100 per cent acquisition of BoJCL is same as that of the earlier 74 per cent purchased from Jaiprakash Associates (i.E. Aggregate enterprise value of Rs 1,150 crore for 100 per cent stake)," Dalmia Bharat said in a filing to BSE.
Dlamia Bharat had in March acquired Jaiprakash Associates's 74 per cent stake in the venture.

The company has a 30-year clinker supply arrangement with Jaiprakash Associates and 30-year slag supply arrangement with SAIL. Dalmia Bharat Group has an annual cement-making capacity of over 21 MT now.