The Jaypee group has proposed to sell its clinker, cement and power plants to Dalmia Bharat Ltd at an enterprise value of Rs 5,666 crore in a bid to reduce its debt burden.
“Dalmia Cement (Bharat) Limited (DCBL), a wholly-owned subsidiary of Dalmia Bharat, has entered into a binding framework agreement for the acquisition of clinker, cement and power plants from Jaiprakash Associates Limited and its associate having total cement capacity of 9.4 million tonnes (along with clinker capacity of 6.7 million tonnes and thermal power plants of 280MW),” Dalmia Bharat said in an exchange filing.
These plants are situated in Madhya Pradesh, Uttar Pradesh and Chhattisgarh. The agreement was signed with Jaiprakash Associates Ltd (JAL) and its associate company, Jaiprakash Power Ventures Ltd.
