Reliance Infra sells cement business to Birla Corp for Rs 4800 crore

Reliance Infra sells cement business to Birla Corp for Rs 4800 crore
05/02/2016 , by , in ALLIED

Reliance Infra said that it has sold its cement business to Birla Corporation Limited, the flagship Company of the M P Birla Group. The deal values 5.08 mtpa cement business at Rs 4800 crore, at USD 140 per tonne.

RCCPL has an integrated cement capacity of 5.08 Mtpa at Maihar, Madhya Pradesh and Kundanganj, Uttar Pradesh and a grinding unit of 0.5 Mtpa at Butibori, Maharashtra.

Under this transaction Birla Corporation Limited will acquire the 100% shareholding of RInfra in RCCPL. The transaction is subject to approval of the Competition Commission of India and other applicable regulatory approvals.

SBI Capital Markets Limited acted as the financial advisors to R Infra for this transaction.

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