ACC acquires 55% stake in Asian Concretes and Cements for ₹775 crore

ACC Limited, a subsidiary of Ambuja Cements, acquired a 55% stake in Asian Concretes and Cements Private Limited (ACCPL) for an enterprise value of ₹775 crore, fully funded through internal accruals. The remaining 45% was also acquired from the existing promoter, giving ACC full ownership. ACCPL and its subsidiary have a combined cement capacity of 2.8 MTPA.

“With this acquisition, we are furthering our growth trajectory, enriching our portfolio, and continuing to accelerate our journey towards value creation for all our stakeholders.”thehindubusinessline.com

• 2 sources
• thehindubusinessline.comACC acquires 55% stake in Asian Concretes and Cements - The HinduBusinessLineArushi MishraJan 8, 2024
• economictimes.indiatimes.comAsian Concretes and Cements: Adani-owned ACC acquires Asian Concretes and Cements at enterprise value of Rs 775 crore - The Economic TimesJan 8, 2024

Summarized from public sources; check the original articles before acting on it.