holcim ltd

Holcim will use cash raised from the sale of its Indian business for acquisitions focused on building products and solutions, chief executive Jan Jenisch said on Monday, with the cement-maker currently eyeing 10 potential targets. Holcim agreed to sell its Indian business to Adani Group for $6.38 billion as it seeks to lower its carbon profile and raise funds for takeovers.

holcim ltd plans to invest $1.1 billion in India over the next five years to expand cement-making capacity to 60 million tonnes, from 50 million tonnes, Paul Hugentobler, a member of the company executive committee said.

India’s centibillionaire Gautam Adani’s shopping spree continues, with his enterprise in advanced stages of discussions with Holcim to buy the latter’s local cement operations. Rival JSW Group too remains interested in Holcim’s local assets, Ambuja Cements and ACC.

Holcim, the world’s largest cement maker, is restructuring its India holdings by transferring its stake in ACC to Ambuja Cements.

Chinks are appearing in the world's second largest cement market as the market leader, Holcim, has decided to severe ties with the industry body, the Cement Manufacturers Association - ostensibly to avoid backlash in Europe over cartelisation charges.

India Inc's deal value more than doubled to $19.1 billion across 190 transactions in May 2022, mainly helped by the $10.5-billion acquisition of global cement major Holcim by Adani Group, a report said on Monday.

For the last couple of months Dalal Street investors have been talking about the prospect of imposition of a royalty by Holcim, the global cement major, on, ACC and Ambuja Cement, its two Indian subsidiaries.

Seven years after it acquired Ambuja Cements and ACC and followed it up with a shareholding rejig, which is underway, Holcim, the world’s largest cement maker, has set the stage to integrate common functions across the two companies, a precursor to have a single entity in India.

India’s centibillionaire Gautam Adani’s shopping spree continues, with his enterprise in advanced stages of discussions with Holcim to buy the latter’s local cement operations. Rival JSW Group too remains interested in Holcim’s local assets, Ambuja Cements and ACC.

Domestic institutions (DIIs), which together hold about 9% in Ambuja Cements, have voted against its merger with Holcim, leaving the entire transaction on a knife's edge.

The billionaire’s Adani Group could sign an agreement to acquire a controlling stake in Ambuja Cements Ltd. from Holcim as soon as in the coming days, the people said, asking not to be identified as the information is private. Other bidders including JSW Group remain interested in the assets, they said.

ACC Ambuja Cement merger: ACC Ltd, a part of the world's largest cement producer LafargeHolcim, is mulling over a possible merger with promoter group firm Ambuja Cements.

Shares of ACC and Ambuja Cements were in huge demand on Monday after Gautam Adani's group clinched a deal to acquire a controlling stake in holcim ltd's businesses in India for $10.5 billion. The stock of ACC jumped 3.70 per cent to settle at Rs 2,192 on the BSE. During the day, it rallied 7.79 per cent to Rs 2,288.15. Shares of Ambuja Cements ended at Rs 368.10, a jump of 2.59 per cent. During the day, it gained 5.21 per cent to Rs 377.50.

New Delhi, May 9 () Dalmia Cement has withdrawn the appeal filed before the competition tribunal against transfer of Lafarge's assets as approved by the Competition Commission, clearing the way for the merger of Lafarge and Holcim in India.

JSW Group plans to compete aggressively with Adani Group for assets of Holcim AG's local cement businesses, two sources said on Tuesday, setting the stage for a bidding battle to become the country's second-biggest player in the industry.

Asia's richest man Gautam Adani's group on Sunday said it has clinched a deal to acquire a controlling stake in holcim ltd's businesses in India for USD 10.5 billion, marking ports-to-energy conglomerate's entry into the cement sector.

The new owner of Ambuja Cements and ACC will be liable for anti-trust fines against the two companies, said Holcim, which has inked a sale agreement with Indian industrialist Gautam Adani for the two units.

Holcim, which already controls the 18.2 million tonne Associated Cement Companies, is set to buy out a controlling 14.9% stake in Gujarat Ambuja Cement.

Holcim is strengthening its grip over its Indian operations.