Ambuja Cement acquires Penna Cement for RS 10,422 Crore – Times of India
AHMEDABAD: Adani Group-owned Ambuja Cement on Thursday announced a landmark acquisition of Penna Cement Industries Limited (PCIL) at an enterprise value of Rs 10,422 crore. This strategic acquisition was fully funded through internal accruals, the company said. This way, Ambuja will acquire 100 per cent of PCIL’s shares from its current promoter P Pratap Reddy.Ajay…