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Adani Group wins the race for Holcim's $10.5 B stake in Ambuja Cements, ACC

Press Release   BSE Announcement  

The Adani Group, through an offshore special purpose vehicle, is to acquire Switzerland-based Holcim Ltd's entire stake in its two Indian cement companies – Ambuja Cements Ltd and ACC Ltd. The value for the Holcim stake and open offer consideration for Ambuja Cements and ACC is around USD 10.5 Billion, which makes it India's largest ever M&A transaction in the infrastructure and materials space. The corresponding offer share prices of INR 385 for Ambuja Cement and INR 2,300 for ACC translate into cash proceeds of CHF 6.4 Billion (about USD 6.38 Billion) for Holcim, which through its subsidiaries, holds 63.19% in Ambuja Cements and 54.53% in ACC (of which 50.05% is held through Ambuja Cements). Ambuja Cements and ACC currently have a combined installed production capacity of around 70 MTPA. The two companies have 23 cement plants, 14 grinding stations, 80 ready-mix concrete plants, 10,700 employees and over 50,000 channel partners.