Ambuja-HIPL merger effective from August 12

Ambuja-HIPL merger effective from August 12

ACC has said that the merger of Ambuja Cements and Holcim (India) Pvt Ltd (HIPL) will be effective from August 12.
"The scheme of amalgamation between Ambuja Cements and HIPL and their shareholders and creditors, which provides for the amalgamation of HIPL into Ambuja and dissolution of HIPL without winding up is effective from August 12, 2016," it said in a BSE filing.

On the effectiveness of the scheme, all assets of HIPL, including around 9.39 crore shares of ACC, (constituting 50.05 per cent of the paid-up share capital of ACC), which were earlier held by HIPL, stand transferred to Ambuja, it added.

"Consequently, as a result of the scheme, ACC has now become a subsidiary of Ambuja while the ultimate holding company remains unchanged being LafargeHolcim Limited (formerly known as Holcim Limited, Switzerland)," the filing said.

Promoters of ACC are Ambuja Cements and Holderind Investments Ltd with LafargeHolcim Led (formerly known as Holcim Ltd, Switzerland) being part of the promoter group and ultimate holding company of ACC, it said.

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