36.1 C
Delhi
Friday, March 29, 2024

Victory for Adani Group acquires Holcim India assets for $10.5 billion

Adani Group has entered into a special agreement to acquire India’s Holcim Ltd assets of Ambuja Cements and ACC Ltd, two people with specific information on the matter. The Gautam Adani-led group has estimated an estimated $ 10.5 billion (Rs. 80,000 crore) to come out on top, people say.

The companies are expected to make the announcement soon, and it will be followed by an open gift for two Holcim-owned cement makers who are listed on India’s stock exchange. Adani Group is likely to spend another $ 3-3.5 billion to buy shares from public shareholders, which could increase the total cost of raising funds to about $ 13.5 billion.

Adani Group has promised to pay Rs. 385 per share of Ambuja Cements, said one of the two men, requesting anonymity. Holcim will now allow Adani Group to inspect the assets and funds of Gujarat Ambuja and ACC.

Most Popular Articles