Adani Group’s Ambuja Cements plans to consolidate all cement companies under a single entity in the medium term, according to brokerage firm Jefferies.
The brokerage firm published its note last week, after Adani Group companies’ investors’ meeting in Ahmedabad on June 19.
“The company plans to consolidate all cement companies under one head in the medium term. The merger cost is not a deterrent, but the company is working on identifying the best structure in the interest of minority and other stakeholders,” the note added.
ACC and Ambuja Cement were acquired by the Adani Group in September 2022 for $6.4
