Adani to merge Sanghi, Penna with Ambuja – Times of India
[ad_1] MUMBAI: Ambuja Cements plans to consolidate its business by merging its recent acquisitions, Sanghi Industries and Penna Cement Industries. The company, under Gautam Adani’s leadership, had purchased Sanghi in Dec 2023 and Penna in Aug 2024.Following the merger completion, the Adani family’s ownership in Ambuja will decrease marginally to 67% from 68%, while public…