Jaypee, Birla cement deal likely to be decided soon
Talks between the Jaypee Group and the Aditya Birla Group for sale of the former's cement units in Gujarat have reached the last lap and a decision is expected any time. The deal, if it fructifies, will result in the Birla's paying close to $800 million or Rs 4,357 crore for the units and help Jaypee Group retire its debt, the source said.
The talks are centred around final valuation of the unit. The source said that there is an issue over the valuation of the units from the Birlas' side, who think the units are expensive. The Birlas are negotiating hard and have made the final offer.
The Birlas have offered close to $160 a tonne of capacity and Jaypee and its bankers are going through the offer. The earlier deal in the industry between Holcim and ACC was signed at an acquisition price of $200 a tonne of capacity.