UltraTech receives approval to acquire cement business

UltraTech has announced that it received approval from the Competition Commission of India (CCI) to acquire the cement business of Century Textiles and Industries.

UltraTech is expected to acquire the cement business through a share swap deal to consolidate its position as a market leader. Century Textiles has three integrated facilities with a total capacity of 11.4Mta and a 2Mta grinding unit.