15.05.2022 19:15:03
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Adani Group To Acquire Holcim's India Business For CHF 6.4 Bln
(RTTNews) - Adani Group announced Sunday that it has entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in India's Ambuja Cements Ltd and ACC Ltd for about $10.5 billion. The transaction is expected to close in the second half of 2022.
Holcim, through its subsidiaries, holds 63.11% stake in Ambuja Cement, which owns a 50.05% interest in ACC, as well as its 4.48% direct stake in ACC. The corresponding offer share prices of INR 385 for Ambuja Cement and INR 2,300 for ACC translate into cash proceeds of CHF 6.4 billion for Holcim.
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