India: Aditya Birla Group subsidiary UltraTech Cement has entered talks to acquire Heidelberg Materials' 69% stake in HeidelbergCement India, Reuters reports. Executives from Aditya Birla Group have reportedly met with Heidelberg Materials' management to discuss the acquisition. Heidelberg Materials’ stake has been valued at approximately US$391m.
The talks come after the Economic Times reported that Ultratech’s rival Adani Group was in discussions to buy Heidelberg's stake back in October 2024.
