: Adani to acquire Holcims stake in Ambuja Cements and ACC Ltd #IndiaNEWS #Business Ahmedabad: The Adani Family, through an offshore special purpose vehicle, announced that it had entered into definitive

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Adani to acquire Holcims stake in Ambuja Cements and ACC Ltd #IndiaNEWS #Business
Ahmedabad: The Adani Family, through an offshore special purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Switzerland-based Holcim Ltds entire stake in two of Indias leading cement companies -Ambuja Cements Ltd and ACC Ltd.
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). The value for the Holcim stake and open offer consideration for Ambuja Cements and ACC is . 5 billion, which makes this the largest ever acquisition by Adani, and Indias largest ever M&A transaction in the infrastructure and materials space.
Our move into the cement business is yet another validation of our belief in our nations growth story, said Adani Group Chairman Gautam Adani.
Not only is India expected to remain one of the worlds largest demand-driven economies for several decades, India also continues to be the worlds second largest cement market and yet has less than half of the global average per capita cement consumption. In statistical comparison, Chinas cement consumption is over 7x that of Indias. When these factors are combined with the several adjacencies of our existing businesses that include the Adani Groups ports and logistics business, energy business, and real estate business, we believe that we will be able to build a uniquely integrated and differentiated business model and set ourselves up for significant capacity expansion.
Adani added: Holcims global leadership in cement production and sustainability best practices brings to us some of the cutting-edge technologies that will allow us to accelerate the path to greener cement production. In addition, Ambuja Cements and ACC are two of the strongest brands recognised across India. When augmented with our renewable power generation footprint, we gain a big headstart in the decarbonisation journey that is a must for cement production. This combination of all our capabilities makes me confident that we will be able to establish the cleanest and most sustainable cement manufacturing processes that will meet or exceed global benchmarks.
I am delighted that the Adani Group is acquiring our business in India to lead its next era of growth, Holcim Ltd CEO Jan Jenisch said. Mr Gautam Adani is a highly recognised business leader in India who shares our deep commitment to sustainability, people and communities. I would like to thank our 10,000 Indian colleagues who have played an essential role in the development of our business over the years with their relentless dedication and expertise. I am confident that the Adani Group is the perfect home for them as well as our customers to continue to thrive.

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