Ultratech to Acquire Century Cement Business

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Aditya Birla Group firm UltraTech has received an approval from the fair trade regulator Competition Commission for the acquisition of the cement business of Century Textiles and Industries. The company said the CCI has given its approval for the share swap deal between the companies.
UltraTech had said that it would acquire the cement business of BK Birla Group Company Century Textiles and Industries through a share swap deal, a move which would further consolidate its position as market leader in the segment.
The board of directors of UltraTech Cement approved a scheme of arrangement amongst Century Textiles and Industries and its respective shareholders and creditors.