<div>Ireland's CRH, one of the world's largest building materials providers, is set to buy a controlling stake in India's Sree Jayajothi Cements Ltd for about $250-$300 million, two sources with direct knowledge of the matter told Reuters.<br /><br />Sree Jayajothi Cements, a unit of the Shriram Group, has a 3.2 million-tonne cement plant in Andhra Pradesh. The deal could be announced as early as on Monday, 12 August, said the sources, who declined to be named.<br /><br />CRH will buy Sree Jayajothi Cements through its Indian unit, My Home Industries, the sources said.<br /><br />Shriram Group, which has interests in the financial, power, infrastructure, construction and real estate sectors, did not have an immediate comment, while officials at My Home Industries were not available.<br /><br />Indian boutique investment bank Mape Advisory advised Shriram Group on the transaction, one of the sources said.<br /><br />Shriram Group was said to have had talks earlier with investors including Blackstone Group and KKR for selling its stake in the cement business.<br /><br />(Reuters) </div>
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