Holcim considering potential sale of India's $9.6 bn Ambuja Cements

Holcim has been selling off non-core assets to reduce debt and diversify through acquisitions

Holcim Ltd., the world’s biggest cement maker, is considering a potential sale of businesses in India including Ambuja Cements Ltd., according to people familiar with the matter.
 

The Swiss giant is gauging interest in its controlling stake in Ambuja, the people said, asking not to be identified as the information is private. Holcim controls 63.1% of Ambuja, which has a market value of about $9.6 billion. 

Deliberations are in the early stages and may not lead to a transaction, the people said. Shares of Ambuja have gained more than 20% this month, partially fueled by market speculation about a potential merger.

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