ACC and Ambuja Cements call off merger, for now

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A limitation in transferring mining assets has led to ACC and Ambuja Cements (ACL) from dropping plans to merge their business, at least for the present.The company is therefore not proceeding with the merger at this juncture, though this remains the ultimate objective, it added.

In a filing to the bourses, Ambuja Cements also said it was not pursuing a merger with ACC at this point of time, though it remains the ultimate goal.