ACC Ltd has informed BSE that a Scheme of Amalgamation between Ambuja Cements Limited ('Ambuja') and Holcim (India) Private Limited ('HIPL') and their shareholders and creditors, under Sections 391 to 394 read with Section 100 and other applicable provisions of the Companies Act, 1956 ('Scheme'), which provides for the amalgamation of HIPL into Ambuja and dissolution of HIPL without winding up is effective from August 12, 2016.
On the effectiveness of the Scheme, all assets of HIPL, including 9,39,84,120 (Nine Crore Thirty Nine Lakhs Eighty Four Thousand One Hundred and Twenty) shares of ACC, (constituting 50.05% of the paid up share capital of ACC), which were earlier held by HIPL, stand transferred to Ambuja. Consequently, as result of the Scheme, ACC has now become a subsidiary of Ambuja while the ultimate Holding Company remains unchanged being LafargeHolcim Limited (formerly known as Holcim Limited, Switzerland).
In view of the above, the Promoters of ACC are Ambuja Cements Limited and Holderind Investments Limited with LafargeHolcim Limited (formerly known as Holcim Limited, Switzerland) being part of the promoter group and ultimate Holding Company of ACC.
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