Orient Cement drops â¹2000cr deal to acquire Jaypee's 2 firms
CK Birla Group firm Orient Cement has terminated its â¹1,946-crore deal to acquire Jaypee Associates' two firms, Bhilai Jaypee Cement and Nigrie Cement Grinding Unit. The deal was terminated as both companies failed to complete the transactions within the stipulated 12 months' time. Jaypee Group has been selling its assets to reduce debt from peak level of around â¹75,000 crore. 