Ambuja Cements to merge Sanghi Industries and Penna Cement into itself

Adani Group-owned Ambuja Cements announced the merger of its subsidiaries Sanghi Industries and Penna Cement Industries via a scheme of arrangement, aiming to consolidate its cement business.

“This merger aims to make our company more competitive and efficient, ultimately enhancing shareholder value.”financialexpress.com

• 5 sources
• financialexpress.comCementing key position: Adani-owned Ambuja Cements announces merger of Sanghi Industries, Penna Cement with itself - Industry News | The Financial ExpressFE BusinessDec 17, 2024
• fortuneindia.comAdani Group merges Sanghi Industries, Penna with Ambuja CementsDec 17, 2024
• reuters.comAdani-owned Ambuja Cements to merge with two unitsDec 17, 2024
• newindianexpress.comAdani merges Sanghi Industries, Penna Cements with Ambuja CementsArshad KhanDec 17, 2024
• constructionworld.in

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