Swiss-based Holcim concludes its sale to the Adani Group for $6.4 billion

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Adani Group has acquired Holcim’s full stakes in Ambuja Cement and ACC. With this, Holcim has closed the sale of its business in India to the Adani Group resulting in cash proceeds of $6.4 billion.

This transaction strengthens Holcim’s balance sheet and enables the company to continue its acquisition strategy, building on recent investments of over Swiss Franc (CHF) 5 billion in Solutions & Products.

According to the CEO of Holcim- Jan Jenisch, this divestment is another step in the transformation to become the global leader in innovative and sustainable building solutions. The proceeds provide the company the firepower to continue its acquisition strategy, he said in a press release.

Jan Jenisch, Holcim CEO: “I would like to thank our 10,700 Indian colleagues who have played an essential role in the development of our business over the years with their relentless dedication and expertise. I am convinced that the Adani Group is the right home for them as well as for our customers to continue to thrive in the future”.

What Does This Transaction Entail?

This transaction comprises Holcim’s entire 63.11% stake in Ambuja Cement, which owns a 50.05% interest in ACC, as well as its 4.48% direct stake in ACC. Adani purchased the stake in Ambuja Cement at a share price of Rs 385 and in ACC at a share price of Rs 2,300.