Corporate News     08-Jan-24
ACC acquires balance 55% stake in Asian Concretes and Cements
ACC announced the acquisition of the remaining 55% stake in Asian Concretes and Cements (ACCPL) from its existing promoter at an enterprise value of Rs. 775 crore resulting in entire ownership of ACCPL. The EV includes cash & cash equivalent of Rs. 35 crore.

ACCPL has 1.3 MTPA cement capacity in Nalagarh (Himachal Pradesh), while its subsidiary Asian Fine Cements (AFCPL) has 1.5 MTPA cement capacity in Rajpura (Punjab).

Entire acquisition is funded through internal accruals and will help ACC & its parent company Ambuja to further bolster market leadership in the lucrative North India market.

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