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Cement majors vying to acquire Vadraj cement
Cement

Cement majors vying to acquire Vadraj cement

Aditya Birla Group flagship UltraTech Cement, Sajjan Jindal-promoted JSW Cement, Lakshmi Mittal-run ArcelorMittal and a dozen other companies have set sights on Vadraj Cement, formerly owned by ABG Shipyard. AM Mining India, a joint venture between ArcelorMittal and Nippon Steel, Oaktree Capita...

Aditya Birla Group flagship UltraTech Cement, Sajjan Jindal-promoted JSW Cement, Lakshmi Mittal-run ArcelorMittal and a dozen other companies have set sights on Vadraj Cement, formerly owned by ABG Shipyard. AM Mining India, a joint venture between ArcelorMittal and Nippon Steel, Oaktree Capital-backed India Opportunities XII Investments and Nirma group-backed Nuvoco Vistas Corporation submitted expressions of interest (EoIs) for the assets. Nirma Group, JK Cement, Naveen Jindal group entity, and Oaktree Capital are also among the potential buyers. Naveen Jindal group company Jindal Panther Cement and PN Group-promoted CN Infrabuild also gave EoIs. Vadraj Cement was admitted for corporate insolvency by the National Company Law Tribunal (NCLT) in February.

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