Adani group wins race to buy Ambuja Cements, ACC for $10.5 bn
Gautam Adani won the race to acquire Swiss cement major Holcim’s stake in Ambuja Cements and its subsidiary ACC for $10.5 bn
Adani group outbid Ultratech and JSW group to enter the cement industry
It also emerged as the country’s second-largest cement manufacturer, with 70 million tonnes of capacity annually
Adani Group may spend $3-3.5 billion to buy shares from public shareholders
Adani Group has offered to pay ₹385 per share for Ambuja Cements
Deutsche Bank, BarCap and Standard Chartered were financiers to the deal
