Adani-owned ACC Limited on Monday announced that it would be acquiring Asian Concretes and Cements Private Limited in a 55% stake deal, valued at Rs 425.96 crores.
“Pursuant to Regulation 30 of the Listing Regulations read with Part A of Schedule Ill of the Listing Regulations, we hereby inform you that ACC Limited at its Board Meeting concluded on 08 th January 2024 has agreed to acquire Asian Concretes and Cements Private Limited,” the cement company said in an exchange filing.
The Adani Group company already has a 45% equity stake in Asian Concretes and Cements, with Monday’s deal giving the cement conglomerate 100% control.
“Cost of acquisition is Rs. 425.96 crores for 55% equity stake,” ACC said in the filing.
