Orient Cement awaits CCI clearance for Ambuja Cements’ majority stake acquisition – MSN

Ambuja Cements, a leading cement company in India, has filed an application with the Competition Commission of India (CCI) to acquire a majority stake in Orient Cement Ltd. As part of the proposed deal, Ambuja Cements aims to increase its stake in Orient Cement from the current 13.18% to around 59.48%. The acquisition would enable Ambuja Cements to expand its presence in the Indian cement industry and increase its market share. Orient Cement is a Hyderabad-based cement company that operates four cement plants in Andhra Pradesh, Telangana, Uttar Pradesh, and Karnataka. The proposed acquisition is likely to create a cement giant with a combined capacity of over 33 million tons per annum, making it one of the largest cement companies in India. The deal is subject to regulatory approvals, including that of the CCI and the Securities and Exchange Board of India (SEBI). If approved, the deal is expected to benefit both companies, creating a more robust and competitive cement player in the domestic market.