The cement maker(Jaiprakash Associates )
is in final stages of its deal with UltraTech for stake sale. The company is looking to sell
its 4.8 million cement plant in Gujarat. The deal value is seen at Rs 3700
crore.
Sources
say the deal would value JP Associates cement plant at EV/tonne of USD 128. The
deal will help the company bring down some of its debt. It has a consolidated
debt of over Rs 63,000 crore.
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