Ambuja Cements acquires Sanghi Industries in $600mn deal ...United Arab Emirates

Ambuja Cements has announced that it has acquired Sanghi Industries in a deal worth US $600mn. The deal makes the company India’s second largest cement maker. The firm said it is acquir­ing 57% of the shares in Sanghi from its fam­ily own­ers, with the com­pany val­ued at around $600mn after tak­ing into account debt and liquid assets. Sanghi has India’s largest plant for cement and clinker and pro­duces approximately six million tonnes of cement per year. According to a report in the Financial Times, the deal is leveraging the firm’s own cash, as opposed to taking on debt to complete the transaction. “We are optim­istic about the acquis­i­tion by Ambuja Cements, recog­nising it as a mutu­a

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