Competition Commission Greenlights Ambuja's Acquisition Of 47% Stake In Orient Cement

Ambuja Cements to Acquire 72.8% Stake in Orient Cement

There is a relief news for the Adani Group of Gautam Adani, the country’s second richest industrialist. The Competition Commission of India (CCI) has approved Oswahro’s proposal to acquire majority stake in CK Birla Group’s Orient Cement Limited, a company of Adani Group’s cement company Ambuja Cements, for Rs 8,100 crore. CCI Approval for Ambuja Cements’ 72.8% Stake in Orient Cement CCI said in a statement, “The proposed transaction involves th…

Competition Commission Greenlights Ambuja's Acquisition Of 47% Stake In Orient Cement

The Competition Commission of India on Tuesday cleared Ambuja Cements' proposal to acquire a majority stake in CK Birla group firm Orient Cement Ltd. for Rs 8,100 crore.Ambuja Cements, a part of the diversified Adani Group, operates 22 integrated cement plants across India, as well as 10 bulk cement terminals and 21 grinding units."The proposed transaction comprises the acquisition of 46.80% of the issued share capital in the target (Orient Ceme…