Bokaro Jaypee Cement
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SAIL Offloads Full Stake in Bokaro Cement JV; Gets Rs 235 Crore
SAIL had formed the 74:26 venture, Bokaro Jaypee Cement, with Jaiprakash Associates to produce 2.1 million tonne cement using slag. Jaiprakash Associates had sold its 74 per cent stake in the venture to Dalmia in March.
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JP Associates sells another high quality asset: Macquarie
JP Associates is likely to use the proceeds from the sale to cut its massive debt. Analysts say the company's debt might come down by Rs 800 crore on a consolidated basis (Rs 690 crore from stake sale plus Rs 110 crore debt transferred from parent company to Dalmia Cement).
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Jaiprakash Associates to sell Bokaro cement unit to Dalmia Cement
Jaiprakash Associates on Monday announced that it will sell 74 per cent stake in Bokaro Jaypee Cement, its joint venture with state-run SAIL, to Dalmia Cement (Bharat) for Rs 690 crore. The stake sale will take place at Rs 69.74 per share against acquisition cost of Rs. 18.57 per share, the company added.
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SAIL Offloads Full Stake in Bokaro Cement JV; Gets Rs 235 Crore
SAIL had formed the 74:26 venture, Bokaro Jaypee Cement, with Jaiprakash Associates to produce 2.1 million tonne cement using slag. Jaiprakash Associates had sold its 74 per cent stake in the venture to Dalmia in March.
-
JP Associates sells another high quality asset: Macquarie
JP Associates is likely to use the proceeds from the sale to cut its massive debt. Analysts say the company's debt might come down by Rs 800 crore on a consolidated basis (Rs 690 crore from stake sale plus Rs 110 crore debt transferred from parent company to Dalmia Cement).
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Jaiprakash Associates to sell Bokaro cement unit to Dalmia Cement
Jaiprakash Associates on Monday announced that it will sell 74 per cent stake in Bokaro Jaypee Cement, its joint venture with state-run SAIL, to Dalmia Cement (Bharat) for Rs 690 crore. The stake sale will take place at Rs 69.74 per share against acquisition cost of Rs. 18.57 per share, the company added.
