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Ambuja Cements Receives CCI Approval For Acquiring Orient Cement

The group will also be able to bring an end to the Adani Crisis. Now that it has received CCI approval, it is expected that the group can begin the various proceedings of the acquisition soon.

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Ambuja Cements Receives CCI Approval For Acquiring Orient Cement

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  1. Ambuja Cements Receives CCI Approval For Acquiring Orient Cement

  2. Ambuja Cements has recently received the CCI approval for the acquisition of Orient Cement. With this acquisition, the Adani Group will be able to bring about an enhancement in its cement capacity. In October 2024, Ambuja Cements, the second-largest cement maker in India had talked about its plans to buy stakes worth 451 million USD in Orient Cement. With that, it wants to get into competition with industry leader UltraTech cement. It will also be able to give a boost to its infrastructure business. The group will also be able to bring an end to the Adani Crisis. Now that it has received CCI approval, it is expected that the group can begin the various proceedings of the acquisition soon.

  3. Ambuja Cements Gets The Green Signal To Acquire Orient Cement: CCI has recently approved Ambuja Cements’ acquisition of Orient Cement. This was months after the company had first announced the deal. Ambuja Cements had earlier revealed its plans to buy stakes worth 451 million USD in Orient Cement. By acquiring Orient Cement, Ambuja Cements aims to enhance its market presence. This acquisition will add Orient Cement’s manufacturing facilities in Karnataka, Telangana, and Maharashtra to Adani Group’s portfolio. This facility serves around 10 states. This will provide Adani Group with a stronger footprint. Ambuja Cements currently operates 22 integrated cement plants, 10 bulk cement terminals, and 21 grinding units across the country. The recent acquisition will add to its existing cement infrastructure. It will also help the business group win back the trust of the people post the controversies of the Adani Crisis.

  4. THE VARIOUS PROCEEDINGS OF THE ACQUISITION: The acquisition is expected to take place in two different steps. During the first phase, Ambuja Cements will acquire 46.8 % shares of Orient Cement. This includes 37.9 % from the existing promoter group and 8.9 % from the public shareholders. Under the SEBI’S substantial acquisition of shares and takeovers regulation, this will trigger an open offer for another 26%.

  5. If fully accepted, Ambuja’s total holdings will become 72.8%. This will give it a majority control over the country’s assets. The acquisition signifies further consolidation in India’s highly competitive cement market. It will allow the Adani Group to put aside the allegations of the Adani Crisis and rise to the position of being one of the biggest players in the country’s cement sector.

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