Adani Group may buy debt-laden Jaiprakash's cement unit for $606 mn: Report

Billionaire Gautam Adani-controlled Adani Group is in advanced talks with debt-laden Jaiprakash Power Ventures Ltd. to buy its cement unit, people familiar with the matter said.

The ports-to-power conglomerate could pay about Rs 5,000 crore ($606 million) for a cement grinding unit and other smaller assets, one of the people said, asking not to be identified as the information is private. 

The acquisition will be made by one of the cement units recently acquired by Asia’s richest person, the people said, adding an announcement was expected as early as this week. While discussions are advanced, they could still be delayed