Ireland-based building materials group CRH Plc has terminated the talk to buy Jaypee Cement's, a part of Jaiprakash Associates, Gujarat operations on valuations difference. The two companies were in discussion since the start of August, but negotiations came to an end on account of inability of both the parties to agree terms.
CRH is regular buyer of bolt-on deals, including spending Euro 250 million on 18 acquisitions in the first half of this year alone, which also included increasing its stake in Chinese associate Yatai Building Materials.
Jaypee group is the 3rd largest cement producer in the country. The groups cement facilities are located in the Satna Cluster (M.P.), which has one of the highest cement production growth rates in India. The group produces special blend of Portland Pozzolana Cement under the brand name ‘Jaypee Cement’ (PPC). Its cement division currently operates modern, computerized process control cement plants with an aggregate installed capacity of 28 MnTPA.
