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News Adani Group to extend loans used to buy Ambuja Cement and ACC

Adani Group to extend loans used to buy Ambuja Cement and ACC

Written by Global Cement staff 02 December 2022
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India: Adani Group is negotiating with several international banks to extend and refinance loans worth US$3.5bn that it used to buy Ambuja Cement and ACC. The Business Standard newspaper reports that the company hopes to extend the bridging loans it originally secured to a tenure of five years. Adani Group purchased the former subsidiaries of Switzerland-based Holcim for around US$6.5bn in September 2022. It later said it planned to invest a further US$2.5bn into its new cement business to double its production capacity.

Last modified on 07 December 2022
Published in Global Cement News
Tagged under
  • India
  • Adani Group
  • Loan
  • corporate
  • Ambuja Cements
  • ACC
  • GCW586

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