NEW DELHI: Cement maker ACCBSE 0.91 % today said the merger of Ambuja CementsBSE 0.91 % and Holcim (India) Pvt Ltd (HIPL) will be effective from today.
“Scheme of Amalgamation between Ambuja Cements and HIPL and their shareholders and creditors,…which provides for the amalgamation of HIPL into Ambuja and dissolution of HIPL without winding up is effective from August 12, 2016,” it said in a BSE filing.
On the effectiveness of the Scheme, all assets of HIPL, including around 9.39 crore shares of ACC, (constituting 50.05 percent of the paid-up share capital of ACC), which were earlier held by HIPL, stand transferred to Ambuja, it added.
“Consequently, as a result of Scheme, ACC has now become a subsidiary of Ambuja while the ultimate Holding Company remains unchanged being LafargeHolcim Limited (formerly known as Holcim Limited, Switzerland),” the filing said.
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Source: Economic Times
