Ambuja Cements has successfully acquired Penna Cements in a significant transaction valued at ₹10,422 crore (approximately $1.24 billion).Tatva Legal and CAM acted as legal advisors.
Tatva Legal, based in Hyderabad, provided legal counsel to Penna Cements and its promoters throughout the acquisition process. The advisory team from Tatva Legal included Partner P Basava Rao, Manager Asmita Murali, Senior Associate Dippyaman Bhattacharya, and Associates Mahek Agarwal and Anirudh Krishna.
On the other side, Cyril Amarchand Mangaldas advised Ambuja Cements on this major deal, with Partner Smruti Shah and Senior Associate Viraj Gami leading the transaction team.
Penna Cements, a leading privately held cement company in India, is renowned for its strong presence and trusted reputation, particularly in the southern and western regions of the country. This strategic acquisition enables Ambuja Cements to capture an additional 8% of the market share in southern India.
Share your news, articles, deals, columns, or press releases with us! Click the link to submit and join our platform today.
