Blackstone Acquires Majority Stake in Sree Jayajothi Cements for US$100 Million (Asia)

Source: VCCircle  |  Author: Bruhadeeswaran R. and Shrija Agrawal

Global investment and advisory firm Blackstone has agreed to purchase a 53 percent stake in Indian cement manufacturer Sree Jayajothi Cements for INR5.5 billion (approximately US$100 million). Blackstone will purchase at least part of the stake from Shriram EPC, an engineering and construction-focused subsidiary of Indian financial services conglomerate Shriram Group, which acquired a majority stake in Sree Jayajothi Cements in 2012.