Which company received CCI approval for a Rs.3,954 crore acquisition of India Cements Ltd?

A)
UltraTech
B)
ACC Cement
C)
Ambuja Cement
D)
Shree Cement

Correct Answer :   UltraTech


* UltraTech Cement, a flagship company of the Aditya Birla Group, received approval from the Competition Commission of India (CCI) for its ?3,954-crore acquisition of India Cements Ltd (ICL).

* This strategic deal involves a significant stake acquisition, including shares from ICL promoters and associates, to enhance UltraTech’s market presence in the southern cement market, especially in Tamil Nadu.

* The acquisition aligns with UltraTech’s growth strategy to expand its installed capacity and strengthen its position as a global leader in the cement industry.

Published On : December 22, 2024