Brief: Ambuja Cements Acquires Sanghi Industries At An Enterprise Value Of 50 Billion Rupees

Sanghi Industries

03/08/2023 04:29

Aug 3 (Reuters) - Ambuja Cements Ltd  ABUJ.NS :
    * ACQUIRES SANGHI INDUSTRIES AT AN ENTERPRISE VALUE OF 50
BILLION
RUPEES
    * ACQUISITION WILL BE FULLY FUNDED THROUGH INTERNAL ACCRUALS
    * AMBUJA’S GOAL OF 140 MTPA CAPACITY BY 2028 WILL BE
ACHIEVED
AHEAD OF TIME
    * WITH THIS ACQUISITION, AMBUJA CEMENTS’ CAPACITY WILL
INCREASE TO
73.6 MTPA
    * AMBUJA WILL INCREASE CEMENT CAPACITY AT SANGHIPURAM TO 15
MTPA
IN THE NEXT TWO YEARS.
    * ACL WILL ACQUIRE 56.74% SHARES OF SIL FROM ITS EXISTING
PROMOTER
GROUP, RAVI SANGHI & FAMILY
    * ACL WILL ALSO INVEST IN EXPANDING THE CAPTIVE PORT AT
SANGHIPURAM TO HANDLE LARGER VESSELS
    * WITH ONGOING CAPEX, COMMISSIONING OF 5.5 MTPA CAPACITY AT
DAHEJ
AND AMETHA, ADANI GROUP’S CAPACITY WILL BE 101 MTPA BY 2025
    * PORT AT SANGHIPURAM WILL BE EXPANDED TO HANDLE VESSEL
SIZES OF
8,000 DWT
    * MAKING OPEN OFFER FOR 26% VOTING SHARE CAPITAL OF SANGHI,
AT A
PRICE OF 114.22 RUPEES PER EQUITY SHARE FROM PUBLIC SHAREHOLDERS
    * SANGHI DEAL TO BE COMPLETED WITHIN 3-4 MONTHS

Further company coverage:  ABUJ.NS 

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