SBI, other PSU banks commit Rs 6,071 cr to Adani Group for copper business

Ports-to-energy conglomerate Adani Group has forayed into copper manufacturing with tying up of finances from public sector lenders for a 1 million tonnes a year unit at Mundra in Gujarat. “Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd (AEL), is setting up a greenfield copper refinery project for production of refined copper with … Read more

Adanis Bring In $3bn As Promoter Equity For The Holcim Deal

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

Adani group wins race to buy Ambuja Cements, ACC for $10.5 bn from Holcim

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

Adani acquires 49% in Raghav Bahl promoted media unit

Adani Enterprises Limited (AEL) has announced the acquisition through it’s wholly owned subsidiary, AMG Media Networks Limited (AMG). Key points to note – Acquisition is of 49% stake in Quintillion Business Media Limited (QBML) QBML owns and operates a business and financial news digital media platform, viz., www.bqprime.com (formerly known as www.bloombergquint.com). Previously on March … Read more

Adani Group in advanced talks to acquire Holcim businesses in India

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

The Mukesh Ambani-Gautam Adani rivalry is about to get intense

Mukesh Ambani and Gautam Adani tiptoed around each other for years to reach the top two rungs of Asia’s wealth ladder. While one of them built an empire in telecom and retail, the other established a lock on transport and energy distribution. Increasingly, though, the two billionaires from India’s Gujarat state are starting to overlap, … Read more

Billionaire Gautam Adani explores partnerships with Saudi Aramco

Indian conglomerate Adani Group is exploring potential partnerships in Saudi Arabia, including the possibility of buying a stake in the world’s largest oil exporter, people with knowledge of the matter said. The group, led by Indian tycoon Gautam Adani, has held preliminary talks on a range of potential cooperation and joint investment opportunities with Saudi … Read more

Adani makes foray into media business with Quintillion stake

The relationship “marks a strong beginning of Adani Group’s foray into media”, the statement said. India’s Adani Group is taking a minority stake in local digital business news platform Quintillion, the companies said in statement on Tuesday, marking billionaire Gautam Adani’s first bet in the news industry. The relationship between Adani Media Ventures and Quintillion … Read more