Talks between Aditya Birla Group, which owns Hindalco Industries and UltraTech Cement, and New Hope have moved beyond the initial stages, industry sources said, adding the 35-billion dollar conglomerate was likely to appoint advisors in the next few days for the deal.
The group is also mulling on raising funds on its own or form a joint venture for the acquisition, sources said. "We do not comment on market speculations," Aditya Birla Natural Resources' Managing Director Tuhin Mukherjee said, when asked about it.
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