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Blackstone, Temasek may acquire Wonder Cement stakes
2018-12-01
Blackstone Group and Temasek Holdings are in talks to buy 15-20 per cent stake in Wonder Cement, part of Rajasthan-based RK Group, for Rs 10 bn. Through this deal, the value of the company will stand at Rs 60 to 66 bn.
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<p>JP Morgan has been hired to oversee the process. The flow of new funds will reportedly be used to increase the capacity from 6.75 mtpa to 11 mtpa by FY2019.</p>
<p>Contact: Blackstone Group.</p>
<p>Website: www.blackstone.com</p>
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