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.Powered by Capital Market - Live News
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