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Shriram EPC Ltd Sells Stake In SJCL To CRH Plc's Joint Venture

Monday, 12 Aug 2013 01:09am EDT 

Shriram EPC Ltd announced the finalizing the sale of stake in Sree Jayajothi Cements Ltd. (SJCL) to My Home Industries Ltd. (MHIL), a 50:50 joint venture between CRH Plc and My Home Group, Hyderabad. MHIL has valued SJCL at an enterprise value of INR14 billion. The Company said the proceeds from the transaction would be utilized primarily for debt reduction. This transaction will also result in the release of debt on SEPC's book which was undertaken on behalf of SJCL. 

Company Quote

-12.0 -0.83%
19 Sep 2014