Cyril Amarchand Mangaldas advised Adani Group’s Ambuja Cements on two proposed amalgamations involving its listed subsidiaries – ACC and Orient Cement – for an undisclosed amount.
Ambuja and ACC, both of which are listed on the NSE and BSE, and BSE-listed Orient manufacture and sell cement and cement-related products.
The merger with ACC and Orient will involve share swaps with Ambuja, which will remain as a listed company on the NSE and BSE. Ambuja will become Adani Group’s single unified cement giant, streamlining operations, reducing costs and improving market presence.
CAM teams assisted on both mergers, with strategic guidance from managing partner Cyril Shroff and senior partner L Viswanathan.
Partner Ruetveij Pandya and partner designate Nishikant Sao led the transaction team, with support from associates Manjri Singh, Anoushka Ishwar and Pratiti Shah.
Partner Jay Parikh led the team advising ACC, with support from senior associate Saranya Lal and associate Sarvagya Chitranshi. Partner Abhilash Pillai, with support from senior associate Kripa Sankari, provided inputs from a real estate perspective, while partner Sowmya Kumar, assisted by principal associate Luv Saggi, advised on employment-related matters.
Partner Molla Hasan led the team acting for Orient, with assistance from associates Sameer Seshadri and Shailja Beria.
In addition, multiple CAM partners and their teams advised the clients on a range of other matters relating to the mergers.
