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Corporate News
03-Aug-23
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Board of Ambuja Cement approves acquisition of majority stake in Sanghi Industries
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At meeting held on 03 August 2023
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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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