Jaypee mulls 26% stake sale in cement biz
Cement

Jaypee mulls 26% stake sale in cement biz

Jaiprakash Associates (JPA), the Jaypee Group flagship, plans to dilute upto 26 per cent stake in its cement business, the third largest in the country. The company has hired a few investment bank-ers to advise on any strategic stake sale. Preliminary talks have already begun with large South America conglomera-tes; these include Cemex and Votorantim Group, who have a global presence but are also looking at a bigger India play. A deal, if any, may still take some time to fructify. Jaypee Cement, with a current capacity of 23 mtpa is targeting 35.9 mpta by 2011-12.

Contact: Jaiprakash Associates.
Tel: 0120-460 9000.
Fax: 0120-460 9464.
E-mail: jaypee@jalindia.co.in
Website: www.jalindia.com

Jaiprakash Associates (JPA), the Jaypee Group flagship, plans to dilute upto 26 per cent stake in its cement business, the third largest in the country. The company has hired a few investment bank-ers to advise on any strategic stake sale. Preliminary talks have already begun with large South America conglomera-tes; these include Cemex and Votorantim Group, who have a global presence but are also looking at a bigger India play. A deal, if any, may still take some time to fructify. Jaypee Cement, with a current capacity of 23 mtpa is targeting 35.9 mpta by 2011-12.Contact: Jaiprakash Associates.Tel: 0120-460 9000.Fax: 0120-460 9464.E-mail: jaypee@jalindia.co.inWebsite: www.jalindia.com

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