HOME > BUSINESS > Birla Corporation completes acquisition of Reliance Cement Company

Birla Corporation completes acquisition of Reliance Cement Company

Brla CementBirla Corporation said it has completed the acquisition of Reliance Cement company (RCCPL) through purchase of 100% shares in the company.

The previously Reliance Infrastructure owned company is now a wholly owned subsidiary of Birla Corporation added the company.

Early in February this year Birla Corporation had informed regarding the signing of agreement with RCCPL for the acquisition.

Reliance Cement Company Private Limited (RCCPL) is a wholly owned subsidiary of Reliance Infrastructure Ltd (RIL) with total installed capacity of 5.8 Million Tonne Per Annum (MTPA).

Birla Corporation Limited is an Indian based company of the M P Birla group of companies.

 

Follow ULTRA.news
Reliance Infrastructure in talks to sell Mumbai power network to Adani Reliance Infrastructure said it has entered exclusive negotiations with Adani Transmission Limited for the sale of its power distribution business in Mumbai.The deal involves its integrated business of generation, transmission and distribution of power for Mumbai City, the A...
Reliance Infrastructure says sale of transmission assets to Adani on track Reliance Infrastructure Limited said it signed an agreement to transfer some of its transmission assets, under the Western Region System Strengthening Scheme (WRSSS), to two of its subsidiaries ahead of their sale to Adani Transmission Limited.In December 2016, RInfra has e...
Reliance Infrastructure responds to downgrade by India Ratings Reliance Infrastructure said it disagreed with the decision by India Ratings, a unit of Fitch, to downgrade its debt over delays in equity infusion and monetization of assets."The Company respectfully disagrees with the views of India Ratings," it said today."The Company...
Reliance Defence Engg launches patrol ships for Indian Navy Reliance Defence and Engineering, controlled by Reliance Infrastructure, said it 'launched' the first two of its five patrol vessels being built for the Indian Navy at its shipyard in Pipavav, Gujarat.The ships are being constructed under the "P-21" project.The Company i...
ACC net profit up 33%, sales up 18%, volume rises 10% Cement manufacturer ACC Ltd reported a 46% jump in profit before tax to Rs 482 Cr, while sales increased 18% in the first quarter to 3,329 Cr.Net profit rose 33% to 326 cr.Cement volume rose 10% on year."The Company delivered strong volume growth amidst challenging ma...
Reliance Infra defence unit inks one more deal to help with Rafale work Reliance Defence, the defence-focused subsidiary of Reliance Infrastructure, said it entered into yet another agreement with an overseas company. This time, the company said it tied up with Daher Aerospace, France, a supplier of integrated systems for aeroplanes.Daher makes ...
Anil Ambani Group ties up with Thales for Rafale contracts Reliance Defence, the defence manufacturing arm of the Anil Ambani group, said it will form a joint venture in India with global defence manufacturer Thales to carry out some contracts related to the Rafale jet deal.The Indian company will hold 51% of the equity while the fo...
Anil Ambani group company wins Rs 2,950 cr from DMRC Delhi Airport Metro Express Private Ltd, an associate company of Reliance Infrastructure, said it was awarded compensation of Rs 2,950 crore by a three member Arbitration Tribunal in a dispute with Delhi Metro Rail Corporation or DMRC.The tribunal was constituted from a pan...
Anil Ambani’s Reliance Infra sells transmission assets to Adani Following on the heels of its announcement to sell its transmission assets to Adani Group, Reliance Infrastructure today said it has signed a share purchase agreement with Adani Transmission for the sale of 100% of its Western Region System Strengthening Scheme Transmission Asset...
Anil Ambani’s Reliance Defence and Engineering to enter the oil rig business Reliance Anil Ambani Group said its unit Reliance Defence and Engineering Ltd partnered with US-based oil rig comopany ALLRIG to provide jack-up rigs, drilling rigs and other floating fixed oil & gas assets in India."The association will be helpful in providing solutions ...
Reliance Infra sells 100% stake in transmission business to Adani Group Reliance Infrastructure Limited today said it agreed to sell all itstransmission assets to Adani Transmission Limited, the largest private power transmission company operating in India.This acquisition is expected to be completed in current financial year.The entire sale ...
ACC, Ambuja to challenge Competition Commission order ACC Ltd and Ambuja Cements said they will challenge the fine imposed by the Competition Commission of India yesterday, and that a similar order passed by the CCI four years ago had been set aside by the Competition Appellate Tribunal in December last year."We await receip...
ACC, Ambuja among cement companies facing massive fines from Competition Commission The Competition Commission of India (CCI) has imposed fine of Rs 6,320.6 cr upon ten cement manufacturers for forming independent organization to limit competition by controlling the production and distribution of cement, said the Ministry of corporate affairs.The list of...
42,157 Mumbai users switch to Tata Power in FY16, total consumer base over 2 mln Tata Power, one of India's largest integrated power companies, said 42,157 power consumers in Mumbai moved to its network from those of its competitors last financial year, helping the company's total subscriber base cross 2 mln.Tata Power supplies power to households directl...
Grasim’s net profit up 64% on strong viscose staple fibre sales Grasim has reported a 64% growth in profit for April-June quarter on strong performance of their Viscose Staple Fibre (VSF) subsidiary.Increase VSF demand and low inventory in China were the major reason for growth, said the company.Cement subsidiary UltraTech's profit ro...
Anil Ambani’s Reliance Infrastructure sells Cement business to Birla Corp Birla Corporation Limited said it agreed to buy the entire cement business of Reliance Infrastructure Ltd for a valuation of Rs 4800 crores including debt.The debt portion of the valuation will not go to Reliance Infrastructure. The equity value of Reliance Cement was not di...
Reliance Infra in ‘advanced talks’ to sell cement business Reliance Infrastructure, a part of the Anil Dhirubhai Ambani group, is in advanced talks to sell its cement business, the company said."As part of our ongoing asset monetization program, we are at an advanced stage of discussions with potential buyers for divesting the ce...