Adani Group Acquires Holcim Stake in Ambuja and ACC

On Sunday, Billionaire Gautam Adani won the competition to buy shares of Swiss giant Holcim's stake in Ambuja Cement and its subsidiary ACC for the $10.5 billion (approximately Rs 81,361 billion), including a tender offer.

In a statement, the Adani Group announced that it had reached a final agreement to acquire all Holcim shares of two major Indian cement companies, Ambuja Cement and ACC, through an offshore special-purpose vehicle.

Holcim owns 63.19% in Ambuja Cement and 4.48% in ACC. Ambuja Cement owns 50.05% of ACC. The Adani family is soliciting 26% of these two companies to purchase from non-promoter shareholders in accordance with market regulatory and Sebi standards.

Gautam Adani, chairman of the group said, “Our move into the cement business is yet another validation of our belief in our nation’s growth story.” Due to the value of Holcim's shares and consideration for the tender offer, it is Adani's largest acquisition to date and the largest infrastructure and materials M&A transaction in India.