India: The Competition Commission of India has approved Ambuja Cements’ acquisition of Orient Cement, months after the Adani Group company announced the US$451m deal, according to The Economic Times.
Ambuja Cements first revealed plans to acquire Orient Cement in October 2024, intensifying its competition with rival UltraTech Cement.
The Indian cement sector has seen increased competition recently, with both UltraTech and Adani Group companies acquiring smaller firms to expand market share. Analysts had questioned whether the acquisition would secure regulatory approval due to industry oversupply concerns.
