Ambuja Cements to acquire Sanghi Industries in Rs 5,000 crore deal

Gautam Adani-owned Ambuja Cements on Thursday announced its acquisition of smaller rival Sanghi Industries at an enterprise value of Rs 5,000 crore.

This is the Adani Group's first major deal since the damning Hindenburg Research report in January.

Analysts term it a bet on sea-logistics.

The acquisition, expected to close in the next three to four months, will entail purchase of 56.74 per cent shares from Sanghi Industries' promoter group comprising Ravi Sanghi and family and another 26 per cent of the voting share capital pursuant to the open offer.

With multiple other suitors for the cement asset, what could