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Acquiring Company
Ambuja Cements
Acquired Company
Orient Cement
Description
Ambuja Cements has received approval from the Competition Commission of India to acquire a majority stake in Orient Cement for Rs 8,100 crore. This acquisition includes purchasing 46.80 percent of Orient Cement's issued shares, which will increase Ambuja's total stake to 72.8 percent. The deal will enhance Adani Cement's production capacity significantly. This move is part of Ambuja's strategy to strengthen its market position in the cement industry.