Adani complete acquisition of Ambuja Cements & ACC, become country’s 2nd largest
Live MintThe Adani Group on Friday completed the acquisition of Ambuja Cements and its subsidiary ACC Ltd from Switzerland’s Holcim Group for $6.4 billion, the company said in a statement. “The Adani Family, through Endeavour Trade and Investment Ltd, a special purpose vehicle, has successfully completed the acquisition of Ambuja Cements Ltd and ACC Ltd. The value of the Holcim stake and open offer consideration for Ambuja Cements and ACC is $6.5 billion, which makes this the largest-ever acquisition by Adani, and also India’s largest ever M&A transaction in the infrastructure and materials space. Speaking about the acquisition, Adani Group Chairman Gautam Chairman said: ‘What makes cement an exciting business is the headroom for growth in India, which exceeds that of every other country well beyond 2050.’ ‘Cement is a game of economics dependent on logistics and distribution costs and energy costs, and the ability to leverage a digital platform to transform production as well as gain significant supply chain efficiencies.