Adani Group Buys Holcim’s Entire Stake In Abuja Cement & ACC

Adani Group buys Holcim’s entire stake in Abuja Cement and ACC deals for $6.4 billion.

Adani Group has bought Holcim’s entire stake in Ambuja Cement and ACC. With this, Holcim has withdrawn its business from India. The deal was done for about $6.4 billion.

The deal, on the other hand, will strengthen Holcim’s balance sheet and help the company continue its acquisition strategy on the back of Swiss Franc’s recent investment of over 5 billion Swiss francs in solutions and products.

According to Jan Janish, CEO – of Holcim, this disinvestment is another step taken by the company to make a big change and emerge globally.

The transaction includes Holcim’s entire 63.11 percent stake in Ambuja Cement, of which ACC holds 50.05 percent, as well as its direct holding of 4.48 percent in ACC.

Adani Group buys Holcim’s entire stake: Adani Group has bought a stake in Ambuja Cement at a share price of Rs 385 and ACC at a share price of Rs 2,300.

Earlier, Adani Group had presented an open offer of 31 thousand crores to buy a stake in these two companies. The open offer closed last Friday and received little response from the shareholders.

Let us tell you that both companies together make 70 million tonnes of cement annually.

Both these companies have 23 cement plants, 14 grinding stations, 80 ready-mix concrete plants, and more than 50,000 channel partners across the country.

This is the biggest acquisition ever by the Adani Group and the country’s infrastructure and building materials industry.

Adani Group entered the cement sector last year under the name of Adani Cement Industries. After this deal, Adani Group has become the second largest cement maker in India.

Holcim Company started business in India 17 years ago. It is considered to be the largest cement company in the world.