ACC Acquires 55% Stake in Asian Concretes and Cements
ACC Limited, a subsidiary of Ambuja Cements, enhances its market presence by acquiring a 55% stake in Asian Concretes and Cements Private Limited (ACCPL), significantly increasing its cement capacity.
ACC Limited, a key player in the Indian cement industry and a subsidiary of Ambuja Cements Limited, has acquired a 55% stake in Asian Concretes and Cements Private Limited (ACCPL). The enterprise value of this acquisition is ₹775 crore, fully funded through internal accruals. This acquisition resulted in ACC gaining complete ownership of ACCPL, as the remaining 45% stake was acquired from its existing promoter.
ACCPL, along with its subsidiary Asian Fine Cements Private Limited (AFCPL), contributes to a total cement capacity of 2.8 MTPA. This strategic move increases ACC’s cement capacity to 38.55 MTPA, and when combined with its parent company Ambuja, the overall cement capacity reaches 76.10 MTPA.
Ajay Kapur, WTD and CEO of ACC, expressed that this acquisition aligns with the company's growth trajectory and vision for expansion. It is expected to be value accretive, balancing Adani Cement’s clinker facilities in North India. ACCPL operates with a cement capacity of 1.3 MTPA in Nalagarh (Himachal Pradesh), and AFCPL has a capacity of 1.5 MTPA in Rajpura (Punjab).
For more information, visit the original source at The Hindu Business Line.
