CRH, the Ireland based building materials company is likely to acquire stake in the cement operations of Jaiprakash Associates in Gujarat.
The company is likely to acquire 51 per cent stake in Jaypee Cement Corporation for an enterprise value of Rs 4,200 crore. CRH will also have the option of increasing its holding to 65 per cent over the next three years at a pre-fixed price via a call option.
Jaypee Cement has two plants in Sewagram and Wanakbori in Gujarat — each having a capacity of 2.4 million tonne.