ACC closes acquisition of Asian Concretes

New Delhi: Adani Group firm ACC on Monday said it has acquired the remaining 55 per cent stake in Asian Concretes and Cements from its existing promoter at an enterprise value of Rs775 crore, making it a fully-owned subsidiary. ACC Ltd, a subsidiary of Ambuja Cements, is a part of Adani Cement.

Earlier, ACC held 45 per cent stake in ACCPL. The company has done a successful acquisition of 55 per cent stake in ACCPL from its existing promoter at an enterprise value of Rs775 cr.