DEAL SIGNED
The Adani Group, through an offshore special purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Switzerland-based Holcim Ltd’s entire stake in two of India’s leading cement companies – Ambuja Cements Ltd and ACC Ltd. The value for the Holcim stake and open offer consideration for is $10.5 billion. Holcim, through its subsidiaries, holds 63.19 per cent in Ambuja Cements and 54.53 per cent in ACC (of which 50.05 per cent is held through Ambuja Cements). Gautam Adani, Chairman of Adani Group and Jan Jenisch, CEO of Holcim Limited inked the acquisition deal