Adani: we can weather bribery claims storm – it's 'business as usual'
Adani Group seems to be making a concerted effort to reaffirm that “it’s business as ...
BLOOMBERG reports:
Ambuja Cements Ltd., part of the Adani Group, has agreed to acquire Orient Cement Ltd. in a deal valued at 81 billion rupees ($963 million), as billionaire Gautam Adani continues to snap up makers of the key raw material needed for India’s infrastructure push.
Ambuja will acquire 46.8% shares of Orient Cement from its current founders and certain public shareholders, the company said in an exchange filing Tuesday. The transaction will be fully funded by internal accruals.
It will also make an open offer for 26% stake in Orient at 395.40 rupees a share, according to the filing, or a premium of 12% on Monday’s closing price of 352.45 rupees…
The full post can be read here.
Comment on this article