Adani's 'strong joint' associated with ACC-Ambuja Cement, will take over in so many crores
Holcim is currently the second largest cement company in the Indian market after Ultratech Cement. After buying these two cement companies of Adani Group, it has become the number-2 cement company in an important market like India in one stroke.
Ambuja Cements and ACC are amongst the strongest brands in India with excellent manufacturing and supply chain infrastructure. Both the companies currently have 23 cement plants , 14 grinding stations , 80 ready - mix concrete plants and more than 50,000 channel partners across India . Both Ambuja Cement and ACC are listed companies in the stock exchange. On Friday, the share of Ambuja Cement on the NSE closed at Rs 358.30, down 4 percent. Similarly, the shares of ACC Cement closed at Rs 2,102.15 on the NSE on Friday, down by 3 and a half percent.
・63.19% stake in Ambuja Cement
・54.53% stake in ACC Ltd.
Ambuja cementAcc cement
・54.53% stake in ACC Ltd.
Industrialist Gautam Adani will now also be the new 'Cement King' of the country. His Adani Group has bought two big cement companies of the country ACC Limited and Ambuja Cements.
Asia's richest person Gautam Adani family formed a special offshore company (SPV) in ACC and Ambuja Cement with Swiss cement company Holcim Ltd. stake has been purchased. For this, a definitive deal has been signed between the two companies and with this Adani Group is now going to enter the cement business as well.
Holcim's stake
Holcim and its subsidiaries hold 63.19% stake in Ambuja Cement and 54.53% in ACC. Out of its 54.53% stake in ACC Cement, it had bought 50.05% stake through Ambuja Cement.
$10.5 billion deal
Adani Group has made a deal of $ 10.5 billion (about Rs 81,360 crore) for Holcim's stake in both the companies. This is the biggest deal ever in the history of the country in the infrastructure and material sector.
Adani becomes cement king
After buying these two cement companies of Adani Group, it has become the number-2 cement company in an important market like India in one stroke. Ambuja Cement has 6 cement plants in the country. While there are 8 cement grinding units. Ambuja Cement alone has an annual production capacity of 31 million tonnes.