Adani's Ambuja to Acquire $451M Stake in Orient Cement

• Ambuja Cements, India's second-largest cement maker, plans to buy a 47% stake in Orient Cement for $451 million.
• The deal includes the purchase of the entire 37.9% stake held by Orient's large shareholders, including Chairman CK Birla.
• This acquisition is part of Ambuja's strategy to overtake UltraTech Cement as the top cement company in India.
• The deal has raised regulatory concerns among analysts due to the recent surge in cement sector deals.
• Ambuja's shares fell by 1.3% following the announcement, while UltraTech's shares rose by 0.6%.

Source: Reuters