The Adani – Ambuja deal is the acquisition of Holcim’s stake in Ambuja cement and its subsidiary ACC cement by Billionaire Gautam Adani . With this deal Gautam Adani would be the second largest cement manufacturer in India after Aditya Birla group’s Ultratech cement .
Must Read :- What is Adani – NDTV deal ?
Lets understand this deal with the following pointers :-
1. ACC Cement :-
ACC Limited is an Indian cement producer headquartered in Mumbai . The management control of company was taken over by Swiss cement manufacturer Holcim Group in 2004.
2. Ambuja Cement :-
Ambuja Cements Limited, formerly known as Gujarat Ambuja Cement Limited, is a major Indian cement producing company. Currently Holcim holds 61.62% of the shares in Ambuja Cements.
3. Holcim :-
Holcim is a Swiss-based global building materials company. It is headquartered in Switzerland and holds interests in more than 70 countries worldwide.
4. Adani – Ambuja Deal :-
On 16 September, the Adani family completed the acquisition of Ambuja Cements and ACC from Holcim group for a whopping $10.5 billion , making the group India’s second-largest cement maker after Ultratech Cement Ltd.
5. How was Adani-Ambuja deal finalised ?
Holcim owned 63.19% shareholding in Ambuja cement and 54.53% in ACC cement (50.05% owned by Ambuja cement and 4.48% by Holcim directly). Billionaire Gautam Adani won the race to acquire Swiss cement major Holcim’s stake in Ambuja cement and its subsidiary ACC for $10.5 billion , out of this $10.5 billion , $6.5 billion was acquired with the help of international banks through pledging. Gautam Adani pledged shares worth $12 billion to fund his business’s $6.5billion acquisition of two major cement manufacturers.
Must Read :- What is pledging of shares ?
6. Why did Gautam Adani invest in cement industry ?
Rumours are spreading that Adani is constructing commercial parks in the vicinity of all 6 airports operated by Adani ports . This humongous infrastructures would require million tones of cements and here the acquisition of cement behemoths will come into play .
Adani group as of 2022 , now comprises of seven publicly listed companies with businesses across sectors of energy, ports & logistics, mining & resources, gas, defence & aerospace and airports. Check out some surprising facts about Gautam Adani .
Reference :- https://en.wikipedia.org/wiki/Holcim
