Dalmia Bharat on Friday said it will acquire the cement assets of debt-ridden Jaiprakash Associates through a Business Transfer Agreement (BTA), executed by its wholly owned subsidiary Dalmia Cement (Bharat) Ltd (DCBL), as part of a transaction arising out of the insolvency proceedings of the latter. The development was announced in New Delhi on May 22.
The acquisition pertains to cement assets of Jaiprakash Associates Ltd (JAL), a company that has been undergoing the Corporate Insolvency Resolution Process (CIRP). The resolution…