Mergers & Acquisitions

UltraTech Cement Acquires 26% Stake in Renewable Energy Company, Amplus Ages

Leading cement manufacturer UltraTech Cement has invested Rs 49 crore to acquire a 26% stake in Amplus Ages, a company engaged in the generation and transmission of renewable energy.

Photo by Nicholas Doherty / Unsplash

The acquisition aims to meet UltraTech Cement's green energy needs, reduce energy costs, and comply with regulatory requirements for captive power consumption under electricity laws.

UltraTech Cement, a prominent cement maker, has announced its acquisition of a 26% stake in Amplus Ages, a company operating in the renewable energy sector. With an investment of Rs 49 crore, this move aligns with UltraTech Cement's mission to meet its green energy requirements and optimize energy costs. Moreover, the acquisition will help the company adhere to regulatory obligations for captive power consumption under electricity laws. The deal is expected to be finalized within 180 days, subject to the execution of the electricity offtake agreement and share subscription and shareholders agreement.

Source:
indiatimes.com

Ambuja Cements Acquires 1.5 MTPA Grinding Unit in Tuticorin for INR 413.75 Crore

Ambuja Cements, part of LafargeHolcim, has announced the acquisition of a 1.5 MTPA grinding unit in Tuticorin, Tamil Nadu, India, at a cost of INR 413.75 crore. The acquisition aims to strengthen the company's footprint in the southern region of the country.

CSN's Potential Acquisition of InterCement Will Not Alter Its Leverage Goal, Executive States

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