Ultratech Cement has received fair trade watchdog Competition Commission of India’s (CCI) approval for its Rs 3,800 crore deal with Jaypee Cement Corporation to acquire its facilities in Gujarat. CCI said that the proposed combination is not likely to have an appreciable adverse effect on competition in India.
According to the deal, the Aditya Birla Group firm will acquire Jaypee’s cement unit in Gujarat comprising an integrated cement plant at Sewagram, limestone reserves, captive power plant and mining leases, among others.
The deal which was executed in September this year, has been pegged as one of the largest M&A deals in recent time and will further cement UltraTech’s numero uno position in the market and give it an entry into Gujarat.
UltraTech Cement manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement. The company has 11 integrated plants, one white cement plant, one clinkerisation plant in UAE, 15 grinding units 11 in India, 2 in UAE, one in Bahrain and Bangladesh each and five terminals, four in India and one in Sri Lanka.
According to the deal, the Aditya Birla Group firm will acquire Jaypee’s cement unit in Gujarat comprising an integrated cement plant at Sewagram, limestone reserves, captive power plant and mining leases, among others.
The deal which was executed in September this year, has been pegged as one of the largest M&A deals in recent time and will further cement UltraTech’s numero uno position in the market and give it an entry into Gujarat.
UltraTech Cement manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement. The company has 11 integrated plants, one white cement plant, one clinkerisation plant in UAE, 15 grinding units 11 in India, 2 in UAE, one in Bahrain and Bangladesh each and five terminals, four in India and one in Sri Lanka.
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