Trackpad

Big deal in the cement space : Adani Group buys out Holcim cement assets in India!

During the weekend while many of us were busy partying or maybe completing some unfinished household work, Adani Group was busy striking a deal! Holcim has signed a binding agreement for Adani Group to acquire its business in India, comprising a 63.11 per cent stake in Ambuja Cements, which owns a 50.05 per cent interest in ACC along with a 4.48 per cent direct stake in ACC.The corresponding offer share prices of ₹ 385 for Ambuja Cements and ₹ 2,300 for ACC translate into cash proceeds of CHF 6.4 billion for Holcim.