The Competition Commission of India (CCI) has approved the proposed acquisition of grey cement business of Kesoram Industries Ltd. (Kesoram) by UltraTech Cement Ltd. (UltraTech). The acquirer – UltraTech, is engaged in manufacturing & sale of grey & white cement, ready-mix concrete, clinker, & building products in India; whereas, the target – Kesoram, is a part of B.K. Birla group and is engaged in the business of rayon, transparent papers & chemicals in India & also manufactures grey cement. As per CCI, the proposed acquisition does not give rise to competition concerns in the “manufacture & sale of grey cement in Maharashtra and the southern region of India”.
