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Adani to cement Holcim assets’ deal with $10.5bn


MUMBAI: Ahmedabad-based billionaire Gautam Adani has just consolidated his group’s presence in the building materials business.
Of the total 540 million tons of annual capacity in India – the world’s second largest cement market after China – UltraTech accounts for 117 million tons, while Ambuja Cements-ACC is 70 million tons. Holcim owns 63.11% in Ambuja Cements and 54.53% in ACC – the twin assets it entered India in 2005.
Adani, in line with India’s M&A rules, will make an open offer to acquire an additional 26% stake in two publicly traded companies. The Indian conglomerate said the value of its Holcim stake and open offer for Ambuja Cements and ACC is $10.5 billion. Adani offered Rs 385 for a piece of Ambuja Cements and Rs 2,300 each for ACC. The asking price was above Friday’s closing price of Ambuja Cement and ACC of Rs 359 and Rs 2,114 on BSE.
“We are acquiring some of the most efficient building materials manufacturing operations in India, powered by clean technologies such as heat recovery systems. We recognize the Ambuja Cements and ACC operations as well. consumes a lot of energy and so when combined with our ability to generate renewable electricity we make a big profit Adani, who started the deal through a dedicated offshore vehicle, for know.
A first-generation entrepreneur with a net worth of around $100 billion, according to the Bloomberg Billionaires Index, Adani, 59, has been expanding her empire beyond logistics, energy and business. agribusiness into newer sectors such as data centers, steel, petrochemicals and digital.
Ambuja Cements-ACC has a total of 31 production sites and 78 ready-mix concrete plants with 10,700 employees across India. The agreement, subject to local government approval, is expected to be signed in the second half of this year.

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