Nuvoco Vistas Corporation , the cement business of Nirma Group, on Tuesday announced the acquisition of Gujarat-based Vadraj Energy in a ₹200-crore deal from JSW Cement Ltd and Alpha Alternatives Holdings.

It has "executed Securities Purchase Agreement for acquisition of 100 per cent of securities of Algebra Endeavour Private Ltd (the holding company of Vadraj Energy (Gujarat)," said Nuvoco Vistas, the country's fifth largest cement market in a regulatory update.

Vadraj Energy (Gujarat), a wholly owned subsidiary of Algebra, has power plants at Kutch and Surat, and the said facilities will be utilised by the company for Nuvoco Vistas' captive power consumption, it said.

The deal with full "cash consideration" is expected to be "closed within 10 days from the date of completion of a

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