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ACC to acquire additional stake in Asian Concretes and Cements

08 Jan 2024 Evaluate

ACC has agreed to acquire additional stake in Asian Concretes and Cements. The investment is in line with the company’s strategy to increase its footprint in the cement manufacturing market. Cost of acquisition is Rs 425.96 crore for 55% equity stake. ACC has existing holding of 45% equity stake in Asian Concretes and Cements. The company at its Board Meeting concluded on January 8, 2024 has agreed to the same.

ACC is one of India’s leading producers of cement and ready mix concrete.


Peers
Company Name CMP
Ultratech Cement 10997.00
Ambuja Cements 363.05
ACC 1183.15
Shree Cement 22584.50
Dalmia Bharat 1644.70
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