The transaction is being financed by a consortium of 10 international banks including DBS Bank, First Abu Dhabi Bank, Mizuho Bank and MUFG Bank. Other banks in the consortium include Barclays Bank PLC, BNP Paribas, Deutsche Bank, ING Bank, Sumitomo Mitsui Banking Corporation and Standard Chartered.
Industrialist CK Birla has approached Gautam Adani to sell his promoter stake in Orient Cement after rejecting offers from other buyers. Birla s stake in Orient Cement is 37.9%, with a market value of ₹3,878 crore. The talks with Adani have been ongoing for the past few months, but there is no guarantee of a transaction. Birla s valuation demand, which is double the current market price, could be a deal breaker. Adani Cement recently acquired Sanghi Industries and currently has a total cement capacity of 110 MTPA.