India’s ACC bought remaining 55% stake in ACCPL

ACCPL Navagarh

India’s ACC Limited, which belongs to the Adani Group, acquired the final 55% stake in Asian Concretes and Cements Private Ltd. (ACCPL, former ACL) at an Enterprise Value (EV) of Rs. 7.75 bn (US$ 93.2m) resulting in the entire ownership of the company. It held earlier a 45% stake in the company and its subsidiary AFCPL. The acquisition includes the 1.3 Mta cement plant (photo) of ACCPL in Nalagarh (Himachal Pradesh) and the 1.5 Mta cement plant of AFCPL in Rajpura (Punjab). This increases ACC’s cement capacity by 2.8 Mta to 38.55 Mta and the cement capacity of the Adani Group to 76.1 Mta.