CRH abandons stake buy plan
Cement

CRH abandons stake buy plan

Irish cement maker CRH terminated discussions with Jaypee Cement Corporation for acquiring stake due to  lack of agreement on certain terms. The company was planning to buy Jaypee's Gujarat cement unit due to  its dominant market share there. CRH had planned to buy 51 per cent in Jaypee's Gujarat cement unit at an en-terprise value of Rs 4,200 crore. The deal was aimed at trimming Jaypee's consolidated debt of about Rs 45,000 crore. 

Contact: Jaypee Cement.
Tel: 0120-460 9000.  
Fax: 0120-460 9496.
Website: www.jalindia.com

Irish cement maker CRH terminated discussions with Jaypee Cement Corporation for acquiring stake due to  lack of agreement on certain terms. The company was planning to buy Jaypee's Gujarat cement unit due to  its dominant market share there. CRH had planned to buy 51 per cent in Jaypee's Gujarat cement unit at an en-terprise value of Rs 4,200 crore. The deal was aimed at trimming Jaypee's consolidated debt of about Rs 45,000 crore.  Contact: Jaypee Cement. Tel: 0120-460 9000.  Fax: 0120-460 9496. Website: www.jalindia.com

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