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News Competition Commission of India approves UltraTech Cement’s acquisition of Century Textiles

Competition Commission of India approves UltraTech Cement’s acquisition of Century Textiles

Written by Global Cement staff 22 August 2018
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India: The Competition Commission of India (CCI) has approved UltraTech Cement’s acquisition of Century Textiles & Industries. UltraTech Cement said that the CCI had approved the proposed combination under sub-section (1) of section 31 of the Competition Act, 2012. Century Textiles, the cement production subsidiary of BK Birla Group, holds three integrated plants in Madhya Pradesh, Chhattisgarh and Maharashtra respectively with a combined production capacity of 11.4Mt/yr and a 1Mt/yr grinding plant in West Bengal. The takeover has been arranged via a demerger process whereby Century Textiles’ shareholders will be given shares in UltraTech Cement.

Last modified on 22 August 2018
Published in Global Cement News
Tagged under
  • India
  • Competition Commission of India
  • approval
  • UltraTech Cement
  • Century Textiles and Industries
  • Acquisition
  • GCW367
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