Orient Cement Ltd has said that it would be acquiring two entities, Bhilai Jaypee Cement and Nigrie Cement Grinding Unit, from Jaypee group firms for a total consideration of Rs 1,946 crore.

The company has said in a BSE filing that Orient Cement Ltd (OCL) has signed “definitive agreement” with the Jaypee group firms for all cash deals, which are expected to be completed before March 31, 2018.

It would be acquiring 74 percent share of Bhilai Jaypee Cement (BJCL) from Jaiprakash Associates Ltd (JAL) and its nominee for a total enterprise value of Rs 1,450 crore.

Further, it woulld also acquire Nigrie Cement Grinding Unit as going concern from Jaiprakash Power Ventures (JPVL) for a total consideration of Rs 496 crore.

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