CosmicTaco

CCI Approves UltraTech's Major Stake in India Cements

CosmicTaco · 2024-12-20T22:07:55.668113+05:30

- The Competition Commission of India (CCI) has approved UltraTech Cement's acquisition of a 32.7% stake in India Cements from promoters and an additional 26% through an open offer. - This acquisition, valued at ₹3,954 crore, aims to expand UltraTech's presence in the southern cement market. - J Sagar Associates acted as the sole advisor for UltraTech in securing the CCI's approval. Source: [The Times Of India](https://timesofindia.indiatimes.com/city/chennai/cci-approves-ultratech-cement-acquisition-of-india-cements/articleshow/116509694.cms), [Mint](https://www.livemint.com/companies/news/ultratech-cements-receives-green-flag-from-cci-to-acquire-majority-stake-in-india-cements-11734704465017.html)

The Competition Commission of India (CCI) has approved UltraTech Cement's acquisition of a 32.7% stake in India Cements from promoters and an additional 26% through an open offer.
This acquisition, valued at ₹3,954 crore, aims to expand UltraTech's presence in the southern cement market.
J Sagar Associates acted as the sole advisor for UltraTech in securing the CCI's approval.

Source: The Times Of India, Mint