The Adani family plans to bring in $3 billion as promoter equity for its $10.5 billion buyout of Holcim Ltd’s stake in ACC Ltd and Ambuja Cements Ltd, while banks will finance the rest, two people aware of the financing agreement said. On 15 May, the Adani family said the acquisition would be funded through … Read more
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim’s stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd’s … Read more
Gautam Adani’s conglomerate is in advanced talks to acquire Holcim Ltd.’s businesses in India, according to people familiar with the matter. The billionaire’s Adani Group could sign an agreement to acquire a controlling stake in Ambuja Cements Ltd. from Holcim as soon as in the coming days, the people said, asking not to be identified … Read more
Holcim Ltd., the world’s biggest cement maker, is considering a potential sale of businesses in India including Ambuja Cements Ltd., according to people familiar with the matter. The Swiss giant is gauging interest in its controlling stake in Ambuja, the people said, asking not to be identified as the information is private. Holcim controls 63.1% … Read more
As per the media reports, State Bank of India (SBI) is investing Rs 100 crore into JSW Cement for a minority stake. Key points to note – Investment is through Compulsory Convertible Preference Share (CCPS) and the valuation linked to the Company’s future performance would be determined at the time of proposed IPO of the … Read more