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Orient Cement stock jumps 15% after deal to buy 2 units

The CK Birla Group firm has terminated the agreement to acquire two entities, Bhilai Jaypee Cement and Nigrie Cement Grinding Unit, from Jaypee group firms for a total consideration of Rs 1,946 crore.

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Expect To Restart Jaypee Group's Cement Units In 4-6

The CK Birla group-owned firm acquired 74 percent stake in the Bhilai Jaypee Cement Ltd. of JAL at an enterprise value of Rs 1,450 crore and the Nigrie cement grinding unit of anothet Jaypee Group company Jaiprakash Power Ventures Ltd. in Madhya Pradesh for Rs 500 crore.

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Jaypee cement deal falters Telegraph India

In a setback to crisis-hit Jaypee group, the CK Birla group firm Orient Cement has terminated its Rs 1,946-crore deal to acquire Jaiprakash Associates Ltd's (JAL) two firms Bhilai Jaypee Cement and Nigrie Cement Grinding Unit.

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