CCI approved UltraTech Cement's acquisition of Kesoram Cement Business for Rs 7,600 crore.
The Competition Commission of India (CCI) approved UltraTech Cement's acquisition of Kesoram Cement Business for approximately Rs 7,600 crore, including debt. The deal, announced in November, is part of a scheme of arrangement under the Companies Act. UltraTech Cement, a subsidiary of Grasim Industries, and Kesoram Industries, under the BK Birla Group, manufacture and sell grey cement. The acquisition does not include Kesoram's other businesses in rayon, transparent paper, and chemicals.
March 19, 2024
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