# Ambuja Cements to acquire majority stake in Sanghi Industries

Ambuja Cements, owned by Adani Group, reached a deal to acquire a majority stake in Sanghi Industries. The deal is expected to be announced on August 2, 2023.

- Type: Acquisition
- Announced: 2023-08-01
- Where: India
- Value: $295.0M
- Status: announced
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Ambuja Cements](https://endata.com/companies/15069.md) (acquirer)
- [Sanghi Industries](https://endata.com/companies/71775.md) (target)

## Sources

- [reuters.com](https://www.reuters.com/markets/deals/adani-owned-ambuja-cements-acquire-majority-stake-indias-sanghi-sources-2023-08-01/), 2023-08-01: "The deal by Ambuja is likely to be announced as soon as Wednesday, the sources said, declining to be named because the decision is not public."
- [reuters.com](https://www.reuters.com/world/india/indias-adani-backed-ambuja-cements-buy-majority-stake-sanghi-industries-604-mln-2023-08-03/), 2023-08-03: "Indian billionaire Gautam Adani's Ambuja Cements said it would buy a near 83% stake in smaller rival Sanghi Industries for up to $295 million, his group's first major purchase since turmoil sparked by a U.S. short seller's report."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.