Current Affairs   »   Business Current Affairs & News 2022   »   Adani Group to buy Ambuja Cements,...

Adani Group to buy Ambuja Cements, ACC for $10.5 bn

Adani Group to buy Ambuja Cements, ACC for $10.5 bn 2022_50.1

Adani Group which belongs to Gautam Adani is set to acquire swiss multinational company Holcim’s stake in Indian companies Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The value for the Holcim stake and open offer consideration makes this the largest ever acquisition by Adani and India’s largest-ever Mergers and Acquisitions (M&A) transaction in the infrastructure and materials space. “Our move into the cement business is yet another validation of our belief in our nation’s growth story

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Holcim, through its subsidiaries, holds 63.19 per cent in Ambuja Cements and 54.53 per cent in ACC (of which 50.05 per cent is held through Ambuja Cements). Deutsche Bank, BarCap and Standard Chartered were financiers to the deal. Deutsche Bank was the financial adviser to Adani Group.

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Adani Group to buy Ambuja Cements, ACC for $10.5 bn 2022_60.1

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Adani Group to buy Ambuja Cements, ACC for $10.5 bn 2022_80.1

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