Acc Offloads 500,000 Shares Of Tata Industries

The Associated Cement Companies (ACC) is close to snapping its last links with the Tata group. The cement major, in the process of divesting holdings in non-core businesses, has offloaded about 500,000 equity shares of Tata Industries, nearing an end of its tumultuous relationship with the Tata group. It had sold off its holdings in other Tata group companies earlier.

ACC had around 250,000 shares in Tata Industries in 1998-99. It acquired another 250,000 Tata Industries shares in 1999-2000, bringing its total equity holding in the company to 500,000 shares.

Confirming the development, a senior ACC executive told Business Standard the move was in line with the company