Private Equity

PE Fund Investments

JSW taps Cartyle to back bid for Ambuja, ACC acquisition

Economic Times  

Sajjan Jindal-led JSW Group has initiated talks with private equity firm Carlyle to back its bid for Holcim's Indian cement operations. Holcim Group, the world's largest cement maker, is looking to exit India 17 years after its entry, putting its two listed arms - Ambuja Cement and ACC Ltd - up for sale as part of a global strategy to focus on core markets. JSW, one of the strong contenders in the fray, is organising both equity and debt financing for the transaction which, as per industry estimates, could cost INR 52,000 crore (USD 7 Billion), but may even go as high as INR 80,000 crore (USD 10.6 Billion). JSW is open to raising as much as INR 18,750 crore from PE groups as a consortium.