The Securities and Exchange Board of India (Sebi) is likely to write to the management of Holcim in India expressing concern over the recent group-level restructuring, which will result in a cash transfer of 3,500 crore from Ambuja Cements to Holcim. Top Sebi officials told ET that the regulator was in the process of drafting a response to Ambuja Cements elaborating on its concerns. "There is no official statement addressed to the company in this regard so far. However, we believe that this is an excellent deal for Ambuja shareholders: opportunity to buy a top asset. Presenting it as an anti-minority deal would not make sense as the minorities (shareholders) have the final say," Ambuja said in a statement to ET.
Source : Economic Times
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