Business Standard

LafargeHolcim increases stake in Ambuja Cement and ACC

Image

Capital Market

To 63.11% and 4.48% respectively

ACC announced that LafargeHolcim's subsidiary Holderind Investments has increased its shareholding in Ambuja Cement by 39,100,000 shares to 1253156361 shares (63.11% of total Ambuja shares) and in ACC, a subsidiary of Ambuja, by 7870000 shares to 8411000 shares (4.48% of total ACC shares).

The Purchase Price will be paid in INR. The impact of LarfargeHolcim's net debt is CHF 325 million. This investment was not included in the Group's net debt objective of around CHF 13 billion at the end of 2016 which should be adjusted accordingly.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 16 2016 | 9:15 AM IST

Explore News