UltraTech gets CCI nod to acquire Century Textiles cement business

Aditya Birla Group firm UltraTech has received an approval from Competition Commission for the acquisition of the cement business of Century Textiles and Industries

Aditya Birla Group firm UltraTech on Tuesday said it had 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 said in a regulatory filing.

On May 20, UltraTech said 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 Competition Commission of India (CCI) has by