Jaypee may rope in cement biz partner

According to three independent sources, JPA is open to diluting up to 26 per cent in the business.

Jaypee, added these sources, has roped in a clutch of investment bankers to advise on any strategic stake sale. Preliminary talks have already begun with large South America conglomerates such as Cemex and Votorantim Group, who have a global presence but are also looking at a bigger India play. A deal, if any, may still take some time to fructify.

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