Reported about 1 month ago
Adani Group's Ambuja Cements has finalized a deal to acquire Orient Cement for 81 billion rupees ($963 million), further intensifying its competition with UltraTech Cement, led by Kumar Mangalam Birla. The acquisition includes a 46.8% stake from current shareholders and has plans for an open offer of an additional 26%. This move aims to enhance Adani's cement production capacity, crucial for India's escalating infrastructure investment, which is expected to reach 15 trillion rupees by March 2026.
Source: YAHOO