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 value for the Holcim stake and open offer consideration makes this the largest ever acquisition by Adani and India’s largest-ever Mergers and Acquisitions (M&A) transaction in the infrastructure and materials space. “Our move into the cement business is yet another validation of our belief in our nation’s growth story
Holcim owns 63.19 per cent in Ambuja Cement and 4.48 per cent in ACC. Ambuja Cement, in turn, owns 50.05 per cent in ACC. The Adani family will make an open offer to buy 26 per cent in these two companies from non-promoter shareholders, as per market regulator, the Sebi’s norms.