CCI approves acquisition of stake in Holderind, Ambuja Cements, ACC by Endeavour
16th Aug 2022

The Competition Commission of India (CCI) has approved acquisition of the stake in Holderind Investments, Ambuja Cements and ACC by Endeavour Trade and Investment.

The proposed combination envisages acquisition of the entire share capital of Holderind Investments (Holderind) by Endeavour Trade and Investment (Endeavour). Holderind holds 63.11% of equity share capital of Ambuja Cements (Ambuja) and 4.48% of the equity share capital of ACC. Further, Ambuja holds 50.05% of the paid up equity share capital of ACC. In terms of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Endeavour is required to launch an open offer for further acquisition of up to 26% of the expanded share capital of each of Ambuja and ACC.

Endeavour is a newly incorporated company and belongs to the Adani group. Holderind is a holding company of Ambuja and ACC. Ambuja and ACC are engaged in manufacture of cement in India.

Ambuja Cements is engaged in manufacturing and marketing of cement and clinker for both domestic and export markets.