 "Gautam Adani")
Within hours of closing the $6.4-billion transaction to buy Swiss major Holcim’s stake in Ambuja Cements by the Adani group, the boards of Ambuja Cements and its subsidiary, ACC, were reconstituted on Friday. Gautam Adani, the patriarch of the Adani group, took over as chairman of Ambuja Cements’ board. while his elder son Karan was appointed chairman and non-executive director at ACC. Karan will also be a non-executive director at Ambuja Cements; Holcim's representatives have quit the boards.
The Ambuja Cements’ board also approved a preferential allotment of convertible warrants to an Adani group promoter entity, to raise an additional
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