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
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
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.
The 7th All India Conference of Government Railway Police (GRP) Chiefs, convened by the Railway…
Did you know that one district in Kerala plays a huge role in filling the…
The Employees’ State Insurance Corporation (ESIC) commenced its 75th Foundation Year celebrations at Bharat Mandapam,…
Did you know that one district in Kerala is lovingly called the “crown” of the…
The Ministry of Electronics and Information Technology (MeitY) has launched the Blockchain India Challenge, a…
In a major achievement for Indian mountaineering, a joint six-member team from the Nehru Institute…