UltraTech to buy Jaiprakash cement plants
UltraTech Cement, part of the Aditya Birla conglomerate, is set to buy Jaiprakash Associates' cement plants for an enterprise value of $2.4 billion. The agreement will increase India's biggest cement maker's installed annual capacity by one-third to 90.7 million tonnes. According to reports, Jaiprakash had a debt of around ₹75,300 crore at the end of the 2015 financial year.