Ambuja Cement Share Gains After Adani Group Wins Race To Buy Holcim Stake Ambuja, ACC


Ambuja Cement, ACC Deal: The deal will catapult Adani Cement as the second-largest cement maker in the country

Ambuja Cement shares sprint 10 per cent in early trades on Monday after it was announced that the Adani Group has acquired a controlling stake in Swiss major Holcim’s India business, the Ambuja Cement-ACC combine

  • Last Updated:May 16, 2022, 09:58 IST
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Ambuja Cement shares sprint 10 per cent in early trades on Monday after it was announced that the Adani Group has acquired a controlling stake in Swiss major Holcim’s India business, the Ambuja Cement-ACC combine, for $10.5 billion in a fiercely-battled bidding process that saw participation from large players, including Sajjan Jindal-backed JSW Cement and Aditya Birla Group’s UltraTech Cement.

Holcim, through its subsidiaries, holds 63.19 per cent in Ambuja Cements and 54.53 per cent in ACC (of which 50.05 per cent is held through Ambuja Cements). Adani Cement has to make a mandatory open offer to acquire an additional 20 per cent stake in Ambuja Cement.

The value for the Holcim stake and open offer consideration for Ambuja Cements and ACC is $10.5 billion, which makes this the largest ever acquisition by Adani, and India’s largest ever M&A transaction in the infrastructure and materials space.

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