Heidelberg and India’s Jaypee Group in talks to form joint venture

India-based Jaypee Group is in talks with Heidelberg Cement and Sajjan Jindal-led JSW Cement, to form a joint venture which will control the majority of its cement plants as part of an ongoing exercise to reduce debt.

The plan envisages a separate joint venture entity which will house around 20-22 million tonnes (MT) of Jaypee’s operational units spread across Uttar Pradesh, Himachal ..

The rationale behind the exercise, said the people cited above, is to significantly bring down Jaypee’s consolidated group net debt in one shot. The Delhi-based conglomerate’s debt level, Rs 70,000 crore as of 31 March 2014, is still considered high even after a spate of asset sales from its cement, real estate and power portfolio. In cement alone, Jaypee has sold assets worth Rs 10,000 crore. For both Heidelberg and JSW – still largely regional players – the proposed deal gives an opportunity t ..

A Big 4 consulting and audit firm is be helping Jaypee in the valuation and structuring, according to the people cited. It is still not clear if a separate JV vehicle will get created or a merger will take place between existing entities. Most expect clarity on those issues to emerge in the coming weeks.

The Jaypee Group spokesperson said there are no plans to divest any more cement assets. “At Group level, Jaypee Group has taken disinvestment decision for Rs.22,000 crore. The news rega ..


(Visited 55 times, 1 visits today)

Get involved


As a member of this site you will be able to receive aggregates news relating only to those categories that are most relevant to you, submit job listings for FREE, post questions in the Q&A, and more.

Register Now

Feature your company

The Feature Your Company listing is your custom-made (by us) profile page that allows you to add any of the following content: text, videos, links, images. The page will also be listed on the Featured Company landing page. Over 560 unique aggregates users visit the site per day! Complete the enquiry form now to contact us.

Contact us


Are you looking for an aggregate related job? Click here to see our jobs listing supplied by industry experts United Employment.

See Jobs


Reach thousands of budget holders and decision makers by promoting your company on the longest established aggregate website in the US & Canada. Or advertise in our emails which are sent to opted-in subscribers according to their chosen categories. All advertising will display correctly on tablets and mobiles as this site is responsive.