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News Holcim receives bids for Ambuja Cements

Holcim receives bids for Ambuja Cements

Written by Global Cement staff 03 May 2022
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India: Adani Group and JSW Group have submitted their non-binding bids to Holcim for acquisition of its subsidiary Ambuja Cements. The Business Standard newspaper has reported that Aditya Birla subsidiary UltraTech is also preparing a bid. A deal with UltraTech Cement would delay closure due to the Competition Commission of India approval process it entails. Holcim previously indicated that it would like to conclude the deal early.

Adani Group would finance any acquisition with a combination of its own cash and that from Gulf-based sovereign funds, while JSW Group would engage private equity.

Last modified on 07 June 2022
Published in Global Cement News
Tagged under
  • India
  • Adani Group
  • JSW Cement
  • JSW Group
  • Aditya Birla
  • UltraTech Cement
  • Acquisition
  • funding
  • bank
  • Gulf
  • Holcim India
  • GCW555
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