The Ties That Cement

Updated on: 7 February 2024 7:03 pm

Holcim to buy the 40 per cent shareholding of private equity investors in Ambuja Cement India Ltd, which holds 13.8 per cent of ACC’s equity, for $200 million.
It will also subscribe to a preferential issue of ACIL for $600 mn, increasing its share to 67 per cent and correspondingly reducing Gujarat Ambuja’s to 33 per cent.
Through ACIL, Holcim has announced an open offer to acquire a majority shareholding in ACC up to 50.01 per cent, at Rs 370 a share.
Another open offer, again through ACIL, is to acquire the entire public shareholding of Ambuja Cement Eastern Ltd, in which ACIL holds 94 per cent equity, at Rs 70 a share.