UltraTech Cement gets CCI's clearance to acquire majority stake in India Cements

Quick Summary:

Competition Commission of India (CCI) has approved UltraTech Cement's acquisition of a majority stake in India Cements.

UltraTech will acquire a 32.72% stake from promoters and up to 26% through an open offer, strengthening its presence in the southern cement market.

This deal, valued at over ₹7,000 crore, boosts UltraTech's market leadership.

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Article Details

Author / Journalist: PTI

Category: EconomyBusiness

Markets: IndiaBhutanChinaUkraine

Topics: Kumar Mangalam Birla India Cements UltraTech Cement Competition Commission of India Open offer Cement acquisition

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-20 @ 21:52:29 (6 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 637 words

Reading Time: 4 minutes read

Sentences: 17 lines

Sentence Length: 38 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 24568376

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