The Aditya Birla Group is in talks to acquire a stake in the cement business of Jaiprakash Associates Ltd (JAL) that could potentially be valued at $1 bn (around Rs. 57bn), according to reports.
Reports stated that the exercise is aimed at reducing debt and may even result in a complete exit by JAL from the third largest cement business in India.
JAL is an infrastructure company that also runs hotels, cement plants, utilities and the Buddh International racing circuit near New Delhi, besides developing real estate, says report.