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

Hence then, the article about ambuja cements acquires sanghi industries in 600mn deal was published today ( Tuesday 08/08/2023 - 11:17 AM ) and is available on ME CONSTRUCTION NEWS ( United Arab Emirates ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Ambuja Cements acquires Sanghi Industries in $600mn deal )

Also on site :

• First Scientific Conference on Midwifery to Begin Next Tuesday
• Parliament speaker chairs meeting of development, oil committee with oil ministry, geological survey authority leaders
• Mrs. Melanie Johnson