The Adani group announced a merger and ownership restructuring of its cement assets housed under Ambuja Cements and Adani Enterprises. As part of the scheme, Adani Cementation will be merged with Ambuja, while Adani Cement Industries will become a wholly-owned subsidiary of Ambuja Cements.
Ambuja Cements will offer a share consideration to Adani Enterprises in lieu of the assets. Currently, Adani Enterprises holds a 100 per cent stake in Adani Cementation, which in turn holds a 100 per cent stake in Adani Cement Industries.
“Ambuja will issue its shares as consideration to Adani Enterprises Ltd. under the proposed transaction,” the company said in a statement. The swap ratio will be 174 shares of Ambuja Cements for every share of Adani Cementation, which translates to 87 lakh shares of Ambuja Cements for 50,000 shares of Adani Cementation, the company said.
The Adani group announced a merger and ownership restructuring of its cement assets housed under Ambuja Cements and Adani Enterprises. As part of the scheme, Adani Cementation will be merged with Ambuja, while Adani Cement Industries will become a wholly-owned subsidiary of Ambuja Cements.
Ambuja Cements will offer a share consideration to Adani Enterprises in lieu of the assets. Currently, Adani Enterprises holds a 100 per cent stake in Adani Cementation, which in turn holds a 100 per cent stake in Adani Cement Industries.
