LafargeHolcim increases stake in ACC, Ambuja Cement; shares slump

LafargeHolcim on Wednesday increased its shareholding in ACC and Ambuja Cement.

In Ambuja Cement, LafargeHolcim has 63.11% of total Ambuja shares. In LafargeHolcim now owns nearly 4.48% stake.

On August 12, 2016, Ambuja Cement acquired stake in ACC. The deal involved Ambuja Cement issuing 58.4 crore shares worth Rs 11,200 crore  to the Swiss parent, which would take its stake up to 61.39% from the current 50%. It also acquired 50.1% stake of Holcim in ACC.

Also Read: ACC becomes Ambuja's subsidiary; what's on the road ahead?

Shares of Ambuja Cement was trading at Rs 205.05 per share on BSE Sensex, down by Rs 5 or 2.33% whereas shares of ACC fell by Rs 27 per share or 1.97%, trading at Rs 1320 per share.