Penna Cement Industries Limited’s 100% shares have been acquired by Ambuja Cements, establishing Penna Cement as a fully owned subsidiary. Through this transaction, Ambuja Cements will enter new markets in Sri Lanka and strengthen its position in South India.
The entire ₹10,422 crore acquisition will be financed by internal accruals. It comprises the purchase of 14 million tonnes per annum (MTPA) of cement capacity, with the seller to finish building an additional 4 MTPA of capacity at Jodhpur IU and Krishnapatnam GU.
Group Media Publication
Construction, Infrastructure and Mining
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