Corporate News     03-Aug-23
Board of Ambuja Cement approves acquisition of majority stake in Sanghi Industries
At meeting held on 03 August 2023
The Board of Ambuja Cement at its meeting held on 03 August 2023 has approved acquisition of up to 14,65,78,491 equity shares of Sanghi Industries representing 56.74% of the Voting Share Capital from the promoters of the Target Company, subject to statutory and regulatory approvals for a consideration of up to Rs 114.22 per equity share.

The Board also approved making an open offer for up to 6,71,64,760 equity shares, constituting 26% of the Voting Share Capital, at a price of Rs 114.22 per equity share from the public shareholders of the Target Company.

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