RCCPL acquired by Birla Corp. Piramal & Bain Capital Credit Ink Pact.

Q.  RCCPL has become a subsidiary of which corporate group w.e.f August 2016?
- Published on 25 Aug 16

a. Birla Corporation Ltd
b. TATA Group
c. Godrej Group
d. None of the above

ANSWER: Birla Corporation Ltd
 
Reliance Cement Company Private Ltd has become a subsidiary of Birla Corporation Ltd.
  • Company has acquired 100 percent of the equity shares of RCCPL from Reliance Infrastructure Ltd
  • BCL agreed to purchase the unit for INR 4800 crores; it now takes the annual capacity from 10 MT to 15.5 MT with bonus of mineral concessions in MP, Karnataka, Rajasthan, AP and HP
  • Mining lease in Mukutban, Maharashtra allows the BCL to set up 3 MT clinker unit
Piramal Enterprises and Bain Capital Credit has inked a pact on this day too, to create strategic partnership to invest in restructuring debt
  • Platform’s preference will be to invest in businesses that need restricting and have fundamentally strong growth prospects linked to India infrastructure and consumption needs.
  • Platform aims to create new investment solutions for the market
  • The platform formed by the partnership marks one of the first in the health and finance sector in recent months.

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