Reliance Infrastructure plans to sell its cement business as part of its plan to cut debt through the sale of non-core assets. As many as 10 global companies have been sounded for a 100 stake of Reliance Cement, a wholly-owned subsidiary of Reliance. These include CRH, Cemex, HeidelbergCement, GE, Blackstone, Carlyle and KKR. Local companies JK Cement and Prism Cement may also be interested. Reliance has appointed Morgan Stanley as banker to scout for buyers for Reliance Cement.
展开▼
