India: Business conglomerate Aditya Birla Group has revived negotiations to purchase cement manufacturer Jaiprakash Associates' cement plants in Gujarat and Andhra Pradesh.
Aditya Birla is reported to have made an offer of up to US$130/t to buy the cement assets of Jaiprakash Associates which have an overall capacity of 9.8Mt. This follows Irish building materials firm CRH decision to cancel talks with Jaiprakash Associates in early October 2012. In August 2012 CRH was reportedly close to buying a 51% equity stake in the Indian cement producer's plants in Gujarat. Top officials from Aditya Birla's cement business and executives from foreign lender Barclays Bank are in talks to finalise the pricing of the deal.
