Acquisitions & Mergers

At USD 10.5 billion, the largest acquisition ever made in India's infrastructure and materials sectors

By Admin - 18 Jan 2024 01:41 PM

Ahmedabad, India, May 15, 2022: The Adani Family stated that it has finalised arrangements to purchase the whole interest of Switzerland-based Holcim Ltd in two of India's top cement companies, ACC Ltd. and Ambuja Cements Ltd., through an offshore special purpose company.

Holcim owns 54.53% of ACC (of which 50.05% is held through Ambuja Cements) and 63.19% of Ambuja Cements through its subsidiaries. With a value of about USD 10.5 billion for the Holcim holding and open offer consideration for Ambuja Cements and ACC, this is both the largest acquisition by Adani and the largest M&A deal in the infrastructure and materials sector in India.

"Thanks to Holcim's global leadership in cement production and sustainability best practices, we can accelerate the transition to greener cement production," Mr. Adani continued. Additionally, two of the most well-known brands in India are ACC and Ambuja Cements. Our footprint in the production of renewable energy gives us a significant advantage in the decarbonisation process, which is essential for the manufacturing of cement. With all of our skills combined, I have no doubt that we will be able to create the greenest and most sustainable cement production methods possible, ones that will either match or surpass international standards.

"I am thrilled that the Adani Group is taking over our Indian company to spearhead its next phase of expansion," stated Mr.Jan Jenisch, CEO of Holcim Limited