* Adani Group has acquired Holcim’s full stakes in Ambuja Cement and ACC
* Holcim received cash proceeds of USD 6.4 billion
Holcim has closed the sale of its business in India to the Adani Group, comprising its full stakes in Ambuja Cement at a share price of INR 385 and in ACC at a share price of INR 2,300, resulting in cash proceeds of USD 6.4 billion for Holcim. This transaction strengthens Holcim’s balance sheet and enables the company to continue its acquisition strategy, building on recent investments of over CHF 5 billion in Solutions & Products.
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.
“This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions, strengthening our balance sheet and giving us the firepower to continue our acquisition strategy.”
Holcim will be presenting at CarbonZero: Alternative Fuels and Raw Materials Global Conference and Exhibition on November 10-11. Take your tickets here: carbonzero@industrylink.eu
