Adani Group acquires Holcim's India cement business for USD 10.5 billion

Adani Group acquired Holcim's entire stake in Ambuja Cements and ACC through an offshore special purpose vehicle for USD 10.5 billion. The deal includes 23 cement plants and 14 grinding stations.

“Adani Group has acquired Switzerland-based Holcim’s entire stake in India’s two leading cement companies, Ambuja Cements and ACC, through an offshore special purpose vehicle amounting to USD10.5 billion.”law.asia

• 3 sources
• law.asiaAdani takes over Holcim’s India business for USD10.5bn | India Business Law JournalJanJul 14, 2022
• business-standard.comAdani raises $5.25 bn from global banks to fund acquisition of Ambuja, ACCDev ChatterjeeJul 31, 2022
• cemnet.comCCI approves Adani acquisition of Ambuja and ACC stakesICR NewsroomAug 16, 2022

Summarized from public sources; check the original articles before acting on it.