Khaitan & Co advised the controlling shareholders of Orient Cement (OCL) on the sale of their equity shares to Ambuja Cements Limited. The transaction values OCL at INR 8100 crores.
In a significant move to bolster its presence in the cement industry, Ambuja Cements Limited, part of the Adani Group, has announced the acquisition of Orient Cement Ltd. for an impressive ₹8,100 crores. This transaction values Orient Cement at approximately $58 per tonne for its operational and ready-to-implement capacity, which is notably lower than the typical greenfield setup cost of $110-120 per tonne.
The deal team included Abhishek Dadoo, Gaurav Malhotra, and Jayantika Khanna. The transaction received strategic guidance from Haigreve Khaitan and support from specialists in various areas, including Anshuman Sakle (Competition), Shailendra Bhandare (Intellectual Property), and Sanjay Sanghvi and Raghav Bajaj (Direct Tax).
Ambuja plans to fund the entire acquisition through its internal resources, reflecting its commitment to sustainable growth and expansion in the cement sector. This acquisition is a key part of Ambuja’s broader strategy to enhance its operational capabilities and strengthen its market position.
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