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    Vikshita Vitthal Gujaran in News

    10-Oct-2022 06:49 AM


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    Adani Group in talks to buy Jaiprakash Power's cement unit for ₹ 5,000 crore

    Billionaire Gautam Adani-controlled Adani Group is in advanced talks with debt-laden Jaiprakash Power Ventures Ltd. to buy its cement unit, people familiar with the matter said.
    While discussions are advanced, they could still be delayed or fall apart, the people said.
    Indian news channel ET NOW reported the deal earlier without disclosing a value.
    Adani Group representatives declined to comment.
    Jaiprakash Associates representatives were not immediately available for a comment.
    Separately, Jaiprakash Power Ventures said its board is looking to sell Nigrie cement grinding unit as well as other non-core assets, with naming any prospective buyers.

    Source - Mint