Ambuja Cements has announced the acquisition of Penna Cement Industries Ltd (PCIL) at an enterprise value of ₹10,422 crore. A binding agreement for the acquisition has been signed, which will add 14 MTPA capacity to Adani group, taking the total tally to 89 MTPA (million tonnes per annum). Suven Pharmaceuticals on Thursday said it will acquire 67.5 per cent stake in Hyderabad-based Sapala Organics for ₹229.5 crore. The company expects to complete the acquisition of the remaining equity stake after FY2026-27. 500 acre, has signed Term Sheet with Saffron Resources Private Ltd for acquisition of land parcel.

Source: The Hindu June 14, 2024 14:57 UTC