AGEL, which is India’s largest and world’s leading renewable energy solutions company, develops, owns, and operates utility-scale grid-connected solar, wind and hybrid renewable power plants.
Adani Group company ACC on Monday said that it has acquired the remaining 55 per cent stake in Asia Concretes and Cements from its existing promoter. The acquisition took place at an enterprise value of 775 crores. ACC Limited is a subsidiary of Ambuja Cements and it is part of Adani Cements. Earlier, ACC had a 45 per cent stake in Asian Concretes and Cements Pvt Ltd (ACCPL). Acc in a statement said that the company has “successfully acquired 55 per cent stake in ACCBL from its existing promoter at an enterprise value of Rs 775 crore.
In Himachal Pradesh, ACCPL has a cement capacity of 1.3 MTPA at Nalagar, while its subsidiary Asian Fine Cements Pvt Ltd (AFCPL) has a plant of 1.5 MTPA capacity at Rajpura in Punjab. The company said that the acquisition would be funded through internal leverage and would enable ACC and its parent company Ambuja to further enhance market leadership in the lucrative North Indian market.