Brands
Ambuja Cements seals CCI nod for game-changing Orient Cement buyout
MUMBAI: Adani-backed Ambuja Cements Ltd, one of India’s top cement makers, has laid the groundwork by securing the Competition Commission of India’s (CCI) approval for its acquisition of Orient Cement Ltd. With this regulatory nod, Ambuja is all set to mortar its dominance, brick by brick, as it paves the way for an industry power move that will set its expansion strategy in concrete.
The deal, originally announced on 22 October 2024, involves a major takeover through a share purchase agreement. Ambuja Cements will acquire 7,76,49,413 equity shares, which make up 37.90 per cent of Orient Cement’s existing share capital. An additional purchase of 1,82,23,750 equity shares (8.90 per cent stake) will further bolster its holdings.
But that’s not all—Ambuja is also rolling out an open offer to acquire up to 5,34,19,567 equity shares, representing 26 per cent of Orient Cement’s expanded share capital. The deal values the open offer at Rs 395.40 per share, putting serious weight behind Ambuja’s aggressive acquisition strategy.
The green light from CCI came on 4 March 2025, with the regulator granting unconditional approval under Section 31(1) of the Competition Act, 2002. With no regulatory roadblocks, the cement giant is now positioned to finalise the transaction and accelerate its growth momentum.
Ambuja Cements continues to make bold moves in the infrastructure and building materials sector. By bringing Orient Cement into its fold, Ambuja aims to boost its market presence and production capacity, cementing (pun intended) its leadership in India’s competitive cement industry.
This strategic acquisition reinforces Ambuja’s commitment to expansion and efficiency. With regulatory hurdles cleared, the focus now shifts to execution—expect Ambuja to lay a stronger foundation for growth in the coming months.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
