Sale of Ambuja and ACC to Adani Group completed

Sale has generated $6.4 billion in cash for Holcim

September 16, 2022 1:06 IST | India Infoline News Service
The sale of Ambuja Cement and ACC (Ambuja's subsidiary) to the Adani Group has been completed by Swiss company Holcim, generating cash proceeds of $6.4 billion. The business stated in a statement that the purchase "strengthens Holcim's balance sheet and enables the company to continue its acquisition strategy, building on previous investments of over CHF 5 billion in solutions & products."

I want to express my gratitude to the 10,700 Indian employees who have helped our business expand over the years with their knowledge and unwavering dedication. According to me, the Adani Group is the perfect environment for them and our clients to move forward and develop, said Jan Jenisch, CEO of Holcim.
The divestiture, he added, is "another step in our transition to becoming the worldwide leader in creative and sustainable building solutions, strengthening our balance sheet and allowing us the ammunition to pursue our acquisition plan." Both Holcim's whole 63.11 % ownership in Ambuja Cement, which holds 50.05 % in ACC, and its 4.48 % direct stake in ACC are included in this deal.

For feedback and suggestions, write to us at editorial@iifl.com

Invest wise with Expert advice



Open Demat Account

Invest wise with Expert advice

By continuing, I accept the Terms & Conditions and agree to receive updates on Whatsapp