The Rs 4,640 crore ACC has acquired Tarmac India Pvt Ltd (TIPL), a subsidiary of Tarmac UK, a leading supplier of building materials in the UK. The UK-based company is a part of the Anglo American plc Group, a global leader in mining and natural resources and single-largest shareholder of De Beers.
ACC acquired 98.84 per cent shareholding of TIPL for Rs 12.4 crore. TIPL is in the ready mix concrete business since 1997. It has two ready mix concrete plants located in Mumbai and Navi Mumbai respectively.
The acquisition is with immediate effect and is on 'going concern' basis. TIPL will now be a subsidiary of ACC.