Adani group is Expanding their business in different sectors, and by acquiring Holcim shares, they are now 2nd most significant cement player in India.
Adani group has acquired Holcim shares in Ambuja cement company and ACC worth $6.4 billion
Adani group bought the deal of Ambuja cement at ₹385 per share and in ACC at ₹2,300 per share.
The total Acquisition cost was around $64 billion for both Abuja cement and ACC
Holcim was holding a 63.11% stake in Ambuja Cement and a 4.48% direct stake in ACC and Ambuja owns a 50.05% interest in ACC
As soon as deal was completed on friday shares of both ambuja cement and ACC declined
Jan Jenisch, the CEO of Holcim, said Adani group is suitable for this business, and I wish them the best of luck