CCI approves Ambuja Cements’ plan to buy up to 72.8% of Orient Cement

Ambuja Cements is a major cement player producing OPC, PPC and PCC. The company has 22 cement plants, 10 cement terminals and 21 grinding units in India.

Orient Cement makes grey cement (PPC and OPC) with plants in Telangana, Karnataka and Maharashtra. The company sells in 10 states.

The acquisition will happen in two phases. In the first phase, Ambuja Cements will buy 46.80% of Orient Cement which includes 37.90% from existing shareholders and 8.90% from public shareholders. This will trigger an open offer under Indian regulations. In the second phase, Ambuja Cements will offer to buy up to 26% more of Orient Cement’s shares. If successful, Ambuja Cements will get 72.8% of Orient Cement.

Full order will be made available soon.

Source: PIB