Birla Corporation has acquired Reliance Cement Company from the existing shareholder, Reliance Infrastructure, for $710 million.
RCC has a total operating capacity of approximately 5.5 million tons of cement per annum and has an integrated unit in Madhya Pradesh, as well as grinding units at Maharashtra and Uttar Pradesh.
Birla, which already has plants in Madhya Pradesh, Uttar Pradesh and West Bengal, will significantly strengthen its presence in central India following the transaction.