India: UltraTech Cement is reportedly in advanced discussions with Reliance Infrastructure on the sale of its cement units.
Reliance Infrastructure put up its cement units for sale in October 2015 to reduce its US$3.86bn debt. The company earned a revenue of US$56.7m from its 5.5Mt/yr of operational capacity in July - September 2015. Reliance Infrastructure's cement units are expected to fetch an enterprise valuation of US$749 - 824m.