BusinessWire India
Mumbai (Maharashtra)/ New Delhi [India], August 3: Cyril Amarchand Mangaldas (CAM) advised Ambuja Cement on acquisition of a majority stake in Sanghi Industries, one of the leading cement manufacturers from western India, at an enterprise value of INR 5,000 crore. CAM is also advising on the open offer triggered by the proposed acquisition.
The transaction team was led by Ruetveij Pandya and Jeeta Nayak, Partners; with support from Abhilasha Malpani, Principal Associate, and Vishvas Bharadwaj, Associate.
The Financing advisory team was led by Atman Desai and Mudit Shah, Partners.
The Competition Law advisory team was led by Avaantika Kakkar (Head Competition Law), Kirthi Srinivas, and Vijay Pratap Singh Chauhan, Partners.
As a part of the transaction, Ambuja Cement (which is part of Adani Group) will buy up to 56.74 per cent stake in Sanghi Industries Ltd (SIL) from its existing promoter group - Ravi Sanghi & family.
The Transaction was signed on 3rd August 2023.
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