CRH in talks to buy stake in Indian firm

CRH, the international building materials group, said it was in negotiations with Jaypee Cement Corporation to buy a stake in the Indian firm.

The Gujarat operation in the frame consists of a 3.6m tonne clinker plant at Kutch with 2.4m tonnes of cement grinding capacity.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Jaypee is the third largest cement producer in India with an annual capacity of 28.8m tonnes per annum.

The company has a market capitalisation in excess of 166.4bn rupees - € 2.45bn - and turnover of more than 138.3bn rupees (€ 2.03 bn).

CRH said completion of any transaction would be subject to satisfactory due diligence, the approval of the respective boards of directors and the granting of regulatory approval.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.