Adani Group to acquire CK Birla group firm Orient Cement at Rs 8,100 crore valuation
Billionaire Gautam Adani-led Adani Group on Tuesday said it will acquire CK Birla group firm Orient Cement at a valuation of Rs 8,100 crore, as part of its expansion drive.
With this acquisition Adani Cement will achieve a capacity of 100 MT (million tonnes) per annum by the end of FY25 and a gain of 2% in the overall market share in the country.
Adani Cement has signed a binding agreement for the acquisition of Orient Cement Ltd (OCL) at an equity value of Rs. 8,100 crore. As per that, its step down unit "Ambuja will acquire 46.8% shares of OCL from its current promoters and certain public shareholders", according to a joint statement.
The acquisition will be fully funded through internal accruals, it added.
The latest acquisition will add 16.6 MTPA capacity to the growth-hungry Adani group firm, which operates through Ambuja Cements in the sector.
With this acquisition Adani Cement will achieve a capacity of 100 MT (million tonnes) per annum by the end of FY25 and a gain of 2% in the overall market share in the country.
Adani Cement has signed a binding agreement for the acquisition of Orient Cement Ltd (OCL) at an equity value of Rs. 8,100 crore. As per that, its step down unit "Ambuja will acquire 46.8% shares of OCL from its current promoters and certain public shareholders", according to a joint statement.
The acquisition will be fully funded through internal accruals, it added.
The latest acquisition will add 16.6 MTPA capacity to the growth-hungry Adani group firm, which operates through Ambuja Cements in the sector.