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News UltraTech Cement to acquire 26% stake in Amplus Ages

UltraTech Cement to acquire 26% stake in Amplus Ages

Written by Global Cement staff 12 January 2024
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India: UltraTech Cement has concluded a deal to acquire a 26% stake in renewable energy provider Amplus Ages. ET Infra News has reported the value of the deal as US$5.91m. The parties expect the deal to complete within 180 days of its execution.

The cement producer, a subsidiary of Aditya Birla, said "The acquisition is for the purposes of meeting the company's green energy needs, optimising energy costs and complying with regulatory requirements for captive power consumption."

Last modified on 17 January 2024
Published in Global Cement News
Tagged under
  • India
  • Aditya Birla
  • UltraTech Cement
  • Acquisition
  • Energy
  • Electricity
  • renewable energy
  • GCW642
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