December 25, 2024
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Tag: Competition Commission of India

India Cements becomes subsidiary of UltraTech

India Cements becomes subsidiary of UltraTech

User03 mins

CHENNAI: Close on the heels of the Competition Commission of India (CCI) approving UltraTech Cement‘s acquisition of India Cements, the latter has announced that it has become a subsidiary of UltraTech. The development will facilitate UltraTech adding India Cements’ 14.5 million tonnes capacity spread across Tamil Nadu, Telangana, Andhra Pradesh, and Rajasthan to its consolidated…

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UltraTech Cement gets CCI’s clearance to acquire majority stake in India Cements

UltraTech Cement gets CCI’s clearance to acquire majority stake in India Cements

User03 mins

NEW DELHI: The Competition Commission of India (CCI) on Friday cleared billionaire Kumar Mangalam Birla-promoted UltraTech Cement’s proposal to acquire a majority stake in India Cements. “The proposed combination envisages UltraTech Cement Ltd’s (UltraTech/acquirer) acquisition of 32.72 per cent of the paid-up equity share capital of India Cements Ltd (India Cements/target) from the promoters and…

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