Adani has agreed to buy shares in Ambuja Cements for Rs 385 per share and shares in ACC for Rs 2300 apiece, according to the statement. Thus the $10.5-billion deal is at a 4 per cent premium (for both ACC and Ambuja) from last close on April 13, when the news about Holcim’s plans were first reported by Bloomberg News.

Ambuja Cement has signed a binding agreement to acquire a 46.8 per cent stake in Orient Cement. Photo: Bloomberg Adani family-owned Ambuja Cement has signed a binding agreement to acquire a 46.8 per cent stake in Orient Cement Ltd (OCL) with an investment of Rs 8,100 crore.

The total production capacity, by combining both ACC and Ambuja, will add a 70.9 mtpa capacity of cement production for infrastructure-to-energy conglomerate Adani. Ambuja Cements has an installed capacity of 31.45 mtpa, with the retail segment contributing to about 80% of its sales.

UltraTech Cement of Aditya Birla group recently acquired 32.72 per cent stake in India Cement for Rs 3,945 crore from N Srinivasan and family. Ambuja will acquire 46.8 per cent shares of OCL from its current promoters and certain public shareholders. The acquisition will be fully funded through internal accruals.