Birla Corporation Limited, the flagship company of the M P Birla Group, on Friday said it is hoping to complete the acquisition of entire cement business of Anil Ambani-led Reliance Infrastructure by September this year.

The Kolkata-based company expects to get all necessary regulatory clearances by second quarter of this fiscal for the acquisition of Reliance Cement Company Private Limited (RCCPL). In February this year, Birla Corporation signed a definitive Share Purchase Agreement with Reliance Infrastructure Limited for acquisition of its entire cement business for an enterprise value of Rs.4,800 crore.

“It is under implementation. Some (regulatory) compliance have to be done. We are in the process of addressing these. And once this compliance issues are resolved, then the closing can happen like any other deal,” Birla Corp’s chairman Harsh V. Lodha told reporters when asked about the present status of the RCCPL acquisition.

“By the end of second quarter (by September) the deal should be closed,” Lodha added. He was speaking to the media after the company’s annual general meeting here. Replying to the shareholders’ queries, the chairman said Reliance Infra’s cement business was a ‘good fit’ for the company.

According to Birla Corp, the acquisition will provide the company ownership of modern plants and take its total cement production capacity from 10 MTPA to 15.5 MTPA, strengthening its presence in the high growth Central region.

RCCPL has three cement units, an integrated cement plant at Maihar (Madhya Pradesh) and grinding units at Kundanganj (Uttar Pradesh) and Butiburi (Maharashtra).

In its latest annual report, the Kolkata-headquartered company said it will benefit from Reliance Cement’s strategically located raw material sources, captive coal mine, optimum manpower, efficient operating parameters and technical capability for producing top-end quality product.

Significantly, earlier a transaction deal between Birla Corp and Lafarge India fell through due to issues related to transfer of mines.

Birla Corp in August last year had entered into an agreement with Lafarge India to buy its two cement units in eastern India for an enterprise value of Rs. 5,000 crore. But later, the company in a notice to the stock exchanges said it had been informed about Lafarge’s “inability to proceed” with the transaction.