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News Adani Group seeks sale of 4 - 5% Ambuja Cements stake

Adani Group seeks sale of 4 - 5% Ambuja Cements stake

Written by Global Cement staff 13 March 2023
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India: Adani Group has entered talks with lenders for the sale of a 4 - 5% stake in Ambuja Cements. Adani holds a 63% stake in the producer, which it acquired from Switzerland-based Holcim in 2022. The Financial Times newspaper has reported that the move is intended to reduce debt and restore investor confidence in Adani Group.

The Hindu Business Line newspaper has named US-based asset management company GQG Partners as a probable buyer for the stake.

US-based short seller Hindenburg Research alleged fraud and stock market manipulation by Adani Group in a report published on 24 January 2023.

Last modified on 15 March 2023
Published in Global Cement News
Tagged under
  • Adani Group
  • Ambuja Cements
  • Stake
  • Sale
  • debt
  • investor
  • GQG Partners
  • GCW599
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