Reliance Infrastructure, a part of the Anil Dhirubhai Ambani group, is in advanced talks to sell its cement business, the company said.
“As part of our ongoing asset monetization program, we are at an advanced stage of discussions with potential buyers for divesting the cement business of the company,” Reliance Infrastructure said.
“The proceeds of the divestment will be utilized for the reduction of overall debt of the company,” it added.
The company was replying to a clarification sought by the NSE after media reports said that it is about to sell its cement business to Birla Corp.
Reliance Infrastructure, however, did not comment on who it was in talks with.