Reliance Infrastructure (RInfra) has inked a Share Purchase Agreement (SPA) with Birla Corporation, the flagship Company of the M P Birla Group in relation to 100% sale of its subsidiary Reliance Cement Company (RCCPL). SBI Capital Markets acted as the financial advisors to RInfra for this transaction.
Under this transaction, Birla Corporation will acquire the 100% shareholding of RInfra in RCCPL. The transaction is subject to approval of the Competition Commission of India (CCIL) and other applicable regulatory approvals.
RCCPL has an integrated cement capacity of 5.08 Mtpa at Maihar, Madhya Pradesh and Kundanganj, Uttar Pradesh and a grinding unit of 0.5 Mtpa at Butibori, Maharashtra.
