Adani Group in advanced talks to acquire Holcim businesses in India

Gautam Adani’s conglomerate is in advanced talks to acquire Holcim Ltd.’s businesses in India, according to people familiar with the matter.

The billionaire’s Adani Group could sign an agreement to acquire a controlling stake in Ambuja Cements Ltd. from Holcim as soon as in the coming days, the people said, asking not to be identified as the information is private. Other bidders including JSW Group remain interested in the assets, they said.

Ambuja shares have climbed about 26 per cent in April, giving it a market value of about $10 billion. Holcim, which controls 63.1 per cent of the company,