India’s Ambuja Cements will acquire a 46.8% stake in Orient Cement for 81 billion rupees, valuing the company at $963.5 million. The purchase will be made at 395.40 rupees per share, representing a 12% premium to Orient’s last closing price. This move will enable Ambuja to reach a volume of over 100 million tonnes per annum in the current financial year.
Full Article
Adani’s Ambuja Cements to acquire stake in India’s Orient Cement at $964 mln valuation | Business News
News Summarized. Time Saved. Bite-sized news briefs for busy people. No fluff, just facts.