Gujarat Ambuja Cements Exercises Put Option of Shares of ACIL

Gujarat Ambuja Cements Ltd has announced that the Company has exercised Put Option on Holcim for its investment in Ambuja Cement India Pvt Ltd (ACIL).

The Company owns 33% of the shareholding in ACIL and has exercised its Put Option for 11% of its holding and has sold 95,375,000 shares of ACIL for consideration of Rs 526.5 crores. By selling these shares, the Company has realised profit of Rs 240.7 crores. After this sale, the Company owns 22% shares in ACIL and Holcim remaining 78%.

Source : Equity Bulls

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