Skip to main content

Cyril Amarchand Mangaldas has advised UltraTech Cement on its $2.4 billion acquisition of cement assets from Jaiprakash Associates and its subsidiaries (Jaypee), which was advised by Vaish Associates.

UltraTech Cement, part of the Aditya Birla conglomerate, will acquire Jaypee’s 12 plants across India and will also buy Jaiprakash's broader cement business, allowing the transfer of limestone reserves - a major raw material for cement.

The agreement will increase India's biggest cement maker's installed annual capacity by one-third to 90.7 million tonnes, and provide infrastructure firm Jaiprakash with much-needed relief to pare its debts.

Cyril Amarchand partners Vandana Shroff, Tushar Mavani, Aarti Joshi and Nisha Kaur Uberoi advised UltraTech Cement on the acquisition.

A Vaish Associates team led by partners Bomi F. Daruwala and Martand P. Singh represented Jaypee.

Related Articles

Deals

Khaitan, JSA, Hogan Lovells guide $515 mln Waaree IPO

by Nimitt Dixit |

Khaitan & Co has advised Waaree Energies, India's largest manufacturer and exporter of solar modules, on its $515 million initial public offering, with JSA Advocates & Solicitors and Hogan Lovells guiding the bookrunning lead managers.

Deals

CAM, Khaitan guide Adani-backed Renew Exim’s $380 mln ITD acquisition

by Nimitt Dixit |

Cyril Amarchand Mangaldas has advised Adani Group's Dubai-based firm Renew Exim DMCC on its acquisition of a 46.64 percent stake in ITD Cementation India for around $380 million from Italian-Thai Development Public Company, who was represented by Khaitan & Co.

Deals

CAM, AZB, SAM, Latham advise on landmark $1.3 bln Swiggy IPO

by Nimitt Dixit |

Cyril Amarchand Mangaldas is advising SoftBank-backed Indian food and grocery delivery giant Swiggy on its much-anticipated initial public offering worth $1.3 billion, with AZB & Partners and Latham & Watkins advising the bookrunning lead managers.