Home / Companies / News / Adani group wins race to buy Ambuja Cements, ACC for $10.5 bn from Holcim

Adani group wins race to buy Ambuja Cements, ACC for $10.5 bn from Holcim

Group outbids Ultratech and JSW group to enter the industry and also emerge as the country's second-largest cement manufacturer

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The Adani family will make an open offer to buy 26 per cent in these two companies from non-promoter shareholders, as per market regulator, the Sebi's norms

Dev Chatterjee Mumbai

6 min read Last Updated : May 16 2022 | 12:47 PM IST

Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers.

The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd’s entire stake in two of India’s leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement.

The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70

Topics : Ambuja Cement Adani Group ACC Cement

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