Suspense Crime Sach Ka Dam
Adani Group, led by veteran industrialist Gautam Adani, is going to buy Orient Cement. The group on Tuesday announced the acquisition of CK Birla Group’s cement company Orient Cement at a valuation of Rs 8,100 crore as part of its expansion plan. Adani Cement’s cement and construction material company Ambuja Cements has signed an agreement to acquire Orient Cement Limited (OCL) for Rs 395.4 per share.
Ambuja’s capacity will increase by 16.6 million tonnes annually.
According to a joint statement by Ambuja Cement and Orient Cement, its step-down unit “Ambuja will acquire 46.8 percent stake in Orient Cement from its existing promoters and some public shareholders.” It said that the entire funding of the acquisition would be done from internal sources. Let us tell you that after this deal, Adani Cement’s capacity will increase by 16.6 million tonnes per annum. Adani Cement operates in this sector through Ambuja Cements.
CK Birla Group wants to focus on these businesses.
CK Birla, Chairman, of CK Birla Group, said, “CK Birla Group has been continuously redeploying capital to further its focus on consumer-centric, technology-driven, and service-based businesses. I am proud of our impressive track record of building Orient Cement into a premium brand and maintaining a leading market share in the sectors in which we operate. We are confident that with its strong focus on cement and infrastructure, Adani Group is the ideal new owner to drive growth at Orient Cement for our people and stakeholders.”
Ambuja Cement’s market share will increase by 2%
After the completion of the acquisition of Orient Cement, Ambuja Cement is set to reach 100n MTPA cement capacity in FY 2025. This acquisition will help Adani Cement expand its presence in key markets and significantly increase its Indian market share by 2%.
