Dalmia Cement (Bharat) faces a potential stumbling block to its planned acquisition of Jaiprakash Associates’ cement business for US$683m due to an on-going shareholder dispute at subsidiary Jaypee Bhilai Cement. The Economic Times newspaper has reported that a court has frozen Jaiprakash Associates’ 74% shareholding in the company, and ordered it not to create new
Adani Group announced this week that it was set to acquire a majority stake in Sanghi Cement. Its subsidiary Ambuja Cements said it was going to spend an enterprise value of just over US$600m on buying a 57% share in Sanghi Industries. The acquisition will be fully funded through internal accruals. The transaction works out
Adani Group and JK Lakshmi Cement were reported to be leading the race to acquire Sanghi Cement this week. The Economic Times newspaper reported sources who said that both companies are about to start due diligence processes ahead of making formal offers in the next few months. The enterprise value of Gujarat-based Sanghi Cement is around
Dalmia Cement (Bharat) has launched Dalmia Supreme cement, a Portland pozzolana cement (PPC), in the Eastern India market. The producer says that the cement is a is a specialised, best-in-class product formulated for all construction applications, offering better workability, higher density, chemical resistance and strength and faster setting times than ordinary Portland cement (OPC). Dalmia
JSW Cement was among 20 companies from various industries in attendance at a roundtable discussion on the subject of leveraging clean energy to journey towards net zero on 13 April 2023. The discussion covered a broad range of ways to end the use of fossil fuels, including energy storage and the use of electric vehicles.