Adani Group’s Strategic Move: ACC Acquires 55% Stake In Asian Concretes And Cements For Rs 425.96 Crore
Adani Group’s Strategic Move: ACC Acquires 55% Stake in Asian Concretes and Cements for Rs 425.96 Crore.
Adani Group’s Strategic Move: Explore the latest business development as Adani Group’s subsidiary, ACC, secures a major deal, acquiring a 55% stake in Asian Concretes and Cements for Rs 425.96 crore.
This move significantly boosts ACC’s cement capacity and aligns with the vision of expanding Adani Cement’s business to 140 MTPA by 2028.
Adani Group takes over another company, Gautam Adani’s dominance in the cement sector.
Today a big update is coming regarding Adani Group. ACC, a subsidiary of Adani Group, has signed a deal with Asian Concretes and Cements.
In this deal, ACC has bought a 55 percent stake in Asian Concretes and Cements. This entire deal was done for Rs 425.96 crore. This deal has been approved by the ACC board.
Adani Group’s Strategic Move: ACC Board Meeting.
ACC had its board meeting today on 8 January 2024. In this meeting, the board has decided that it will buy a 55 percent stake of Asian Concretes and Cements for Rs 425.96 crore.
Let us tell you that ACCPL has a capacity of 1.3 MTPA cement in Nalagarh (Himachal Pradesh).
At the same time, their subsidiary company Asian Fine Cements Private Limited has a cement capacity of 1.5 MTPA in the Punjab branch.
After this deal, both these subsidiary companies will join the Adani Group.
With this acquisition, ACC’s cement capacity has increased to 38.55 MTPA (million tonnes per annum), and with its parent company Ambuja, Adani Cement’s capacity has increased to 76.10 MPTA.
ACC has taken this step to increase its cement capacity and take Adani Cement’s business to 140 MTPA by the year 2028.
Commenting on the development, ACC CEO Ajay Kapoor said-
With this takeover, we are advancing our growth, enriching our portfolio, and accelerating our journey toward value creation for all our shareholders. This aligns seamlessly with our vision of expansion.
Before the market close, shares of ACC Ltd were trading at Rs 2,350.35, down 1.14 percent from its previous close.
