Holcim sells its India business to Adani Group for CHF6.4 billion. The operation, which belongs to Ambuja Cement and ACC, is subject to the usual licenses, identifies the cement manufacturer from Zug.
The transaction includes Holcim’s 63.11% stake in Ambuja Cement, which in turn owns a good 50% of ACC, as well as Holcim’s direct stake in ACC of 4.48%. Adani is offering INR 385 per Ambuja Cement share and INR 2,300 per ACC share, which represents a total of CHF6.4 billion.
Holcim expects to close the transaction in the second half of 2022. Adani Group is an India-based company with a portfolio ranging from infrastructure to energy.
More than 10,000 employees
Quoting a press release published on Sunday, Holcim Chairman Jan Jenich sees Adani as the “ideal new owner” of the group’s business in India.
Ambuja Cement and ACC owns a total of 31 cement plants and 78 concrete batching plants. The workforce is 10,700 employees. Both companies are listed on the Bombay Stock Exchange.
Holcim, as it has long announced, intends to focus on “Solutions and Products”. The group has recently invested nearly 5 billion francs there.
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