Ambuja Cements’ acquisition of Orient Cement unlikely to spur demand for petcoke

Ambuja Cements, an arm of Adani Group, announced Oct. 22 that the company will acquire 46.8% stake in the Orient Cement for an equity value of Rupee 8,100 crore ($963.4 million) or share value of Rupee 395.40/share ($4.8/share), the company said in an Oct. 22 regulatory filing. The acquisition is unlikely to affect the demand for seaborne petcoke as overall…Ambuja Cements, an arm of Adani Group, announced Oct. 22 that the company will acquire 46.8% stake in the Orient Cement for an equity value of Rupee 8,100 crore ($963.4 million) or share value of Rupee 395.40/share ($4.8/share), the company said in an Oct. 22 regulatory filing. The acquisition is unlikely to affect the demand for seaborne petcoke as overall…Read More