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News Adani Group further raises Ambuja Cements stake to 70%

Adani Group further raises Ambuja Cements stake to 70%

Written by Global Cement staff 22 April 2024
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India: Adani Group has enlarged its stake in Ambuja Cements from 67% to 70%. The Telegraph newspaper has reported that the group converted warrants into shares in the producer. As a result, it will invest an additional US$1bn in funding for Ambuja Cements, having previously infused funding worth US$2.4bn.

Ambuja Cements director and CEO Ajay Kapur said “This infusion of funds provides Ambuja flexibility for fast-track growth, capital management initiatives and best-in-class balance sheet strength.”

Last modified on 24 April 2024
Published in Global Cement News
Tagged under
  • Adani Group
  • India
  • Adani Cement
  • Ambuja Cements
  • ACC
  • Investment
  • Finance
  • Stake
  • agreement
  • Deal
  • corporate
  • GCW656
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