Anjani Portland to acquire controlling stake in Bhavya Cements
Anjani Portland Cement has entered into a Share Purchase Agreement with Bhavya Cements (Investee Company) and its Promoters. The partnership includes acquisition of a controlling stake in the equity shares capital of the Investee Company at a Provisional Price of Rs 51.53 per share, subject to fulfilment of conditions precedent.
With this acquisition, Anjani Portland Cement aims to improve its market presence with the addition of a new brand. Furthermore, the acquisition would increase the cement manufacturing capacity under the control of the company substantially.