Indian industrialist Gautam Adani ranked seventh among the world's top-10 billionaires and Asia's richest person has finally made his strong debut in the cement business. On Sunday, the Adani Group has come second in terms of cement production in the country in a jiffy. Adani has bought Ambuja and ACC cement companies from Holcim Group of Switzerland. This deal has been done for $ 10.5 billion i.e. about Rs 82,000 crore.
the biggest deal ever
The Adani-Holcim deal is the biggest ever deal in the infrastructure and materials sector in the country's history. With this deal, the Adani Group, which has maintained its supremacy in the field of ports to energy, has also entered the cement sector. It may be noted here that Holcim and its subsidiaries hold a 63.19 percent stake in Ambuja Cement and 54.53 percent in ACC. Adani has made this big deal for Holcim's stake in both the companies.
The company has three brands in India
Some time ago, Holcim had announced to wrap up its business from India. The Holcim Company has three major brands in India, which include Ambuja Cement, ACC Limited, and Mycem. Over the years, Gautam Adani has forayed into other areas apart from his core business of port operations, power plants, and coal mines. Having established a presence in airports, data centers, and clean energy, he has now forayed into the cement business.
UltraTech Cement is currently at the forefront
Talking about the cement business in India, at present, UltraTech Cement occupies the first position in this segment, while Holcim comes second in the country. Under this, the combined capacity of Ambuja Cement and ACC Limited is 70 million tonnes per annum. That is, Gautam Adani's group has become the second-largest business group in the domestic cement sector after this deal. Discussions about this deal were going on for a long time and recently Gautam Adani went on a trip to Abu Dhabi and London for this.
doubling production capacity
It is worth noting that though Adani Group had been the frontrunner in the race to buy this company from the beginning, apart from Adani, others including JSW Group had also shown interest in making it their own. But as expected it was Gautam Adani who completed the deal. Regarding this agreement, Gautam Adani has said that joining the cement companies of Holcim with our green energy and logistics, will make us the greenest cement company in the world. According to 59-year-old Adani, he has taken this step to fill the demand-supply gap in the country. India does not import cement, so we have to be self-reliant on it. Adani plans to double the production capacity of Ambuja and ACC Cement in the next five years.
Strong rise in the shares of Ambuja-ACC
After this big deal between Adani and Holcim, on Monday 16 May, the shares of Ambuja Cement and ACC Cement were affected. Shares of both jumped strongly. Till the time of writing the news, where Ambuja Cement's stock was trading with a gain of 4.07 percent in the market, on the other hand, the share of ACC Cement was seen with a gain of 5.89 percent. Expressing happiness over the deal, Gautam Adani said that a company has been formed abroad for this acquisition. Barclays, Deutsche Bank, and Standard Chartered Bank have pledged funds for this deal. Along with this, the investment will also be made by the Adani Group.
Pakistan: Political situation worsens in Pakistan, Imran Khan started Jail Bharo movement
Jail Bharo Tehreek of former Prime Minister of Pakistan Imran Khan is starting today. Under this,
The state cabinet meeting was held on Wednesday under the chairmanship of Chief Minister Pushkar
Voting took place on Monday for the 16th presidential election. More than 99 percent of MPs and M
The governments of six non-BJP ruled states of the country have not reduced the Value Added Tax (
Often you must have seen in Hollywood movies, in which people become zombies after coming in cont
The Monetary Policy Committee (MPC) of the Reserve Bank of India will hold a special meeting on t
The first meeting of Tirumala Tirupati Devasthanam (TTD) was concluded recently. In this meeting,
Britain's first Indian-origin Prime Minister Rishi Sunak has completed four months. Political ana
Modi-Putin Phone Talk: Russian President Vladimir Putin called PM Modi, know what happened?
Had a telephone conversation with. News agency Reuters gave this information quoting the Kremlin.
A horrific road accident has been witnessed on the Mumbai-Goa highway in Maharashtra. Due to the
