CRH to acquire 51% stake in Jaypee Cement

CRH, the $13.7 bn Irish building materials group, is planning to acquire 51 per cent stake in Jaiprakash Associates’ cement operations in Gujarat at an enterprise value of about Rs 4,200 crore. The enterprise value of Jaypee Cement Corp, which houses two plants in Sewagram and Wanakbori, each having a capacity of 2.4 mn tonne, inclu­­des debt of about Rs 1,800 crore. The deal will help Jaiprakash Associates pare its debt by about Rs 1,800 crore and will also infuse fresh cash of about Rs 1,200 crore in the company. At present, the company has a consolidated debt of about Rs 45,000 crore.Contact: Jaiprakash Associates.Tel: 0120-460 9000. Fax: 0120-460 9464.E-mail: jaypee@jalindia.co.inWebsite: www.jalindia.com