ACC has decided to explore the possibility of merging operations with Ambuja Cement. The company’s board has decided to commence an evaluation of a potential merger between the Company and Ambuja Cements with a view to combine the strengths of both businesses so as to benefit all stakeholders.
A special committee of directors, of which majority are independent directors has been constituted to commence the evaluation. As of now, no decision has been taken on the merger and the company will decide the same after receiving recommendations from the special committee and the audit committee.
ACC is India’s foremost manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.