Holcim complete India divestment
Adani Group acquire Holcim’s full stakes in Ambuja Cement and ACC for US$6.4 billion
HOLCIM have closed the sale of their business in India to the Adani Group, comprising their full stakes in Ambuja Cement and ACC, resulting in cash proceeds of US$6.4 billion.
The transaction will strengthen Holcim’s balance sheet and allow the company to continue its acquisition strategy, building on recent investments of more than CHF5 billion in Solutions & Products.
Holcim chief executive officer Jan Jenisch said: ‘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.’
The Indian transaction comprises Holcim’s entire 63.11% stake in Ambuja Cement, who own a 50.05% interest in ACC, as well as their 4.48% direct stake in ACC.
