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JaiPrakash Associate executes definitive agreement with Orient Cement

JaiPrakash Associate has executed a definitive agreement with Orient Cement (OCL), a part of CK Birla Group. The agreement is 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.

Jaiprakash Associates is an India-based diversified infrastructure conglomerate. Its business sectors include engineering and construction; manufacturing and marketing of cement; energy (power and transmission); expressways; real estate, and hospitality.

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