Adani Group Firm Ambuja Cements Acquires Penna Cement At Rs. 10,422 Crore Valuation | Read
Ambuja Cements, an Adani group firm, today announced the acquisition of Penna Cement Industries Ltd (PCIL) at an enterprise value of Rs. 10,422 crore. A binding agreement for the acquisition has been signed, which will add 14 MTPA capacity to Adani group, taking the total tally to 89 MTPA (million tonnes per annum). Ambuja will acquire 100 per cent shares of PCIL from its existing promoter group P Pratap Reddy and family.
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