Business News : Adani Group buys Ambuja and ACC Cement business

The Adani Group will now own the business of Ambuja Cements Ltd and ACC Ltd, a cement company of Swiss company Holcim Group. This business deal has been done for about $ 10.5 billion (Rs 80,000 crore). Adani Group has made a big business deal under the leadership of billionaire Gautam Adani. Adani Group wins bid to acquire Holcim Group's India business.

The Adani Group will own the business of Holcim Group's cement company Ambuja Cements Limited and ACC Limited. There was a race between two big Indian businessmen of the country to buy the famous cement brand Ambuja and ACC in the country. Apart from the Adani Group, Sajjan Jindal-led JSW Group was also in the race.

Holcim Group has been doing business in India for almost 17 years. In India, Holcim is mainly identified through Ambuja Cement and ACC Ltd. Ambuja Cement and ACC Limited are listed on the Indian Stock Exchange. The market value of Ambuja Cement is more than Rs 70 thousand crore. Holcim holds 63.19% stake in the company, while ACC has a market capitalization of more than Rs 40 thousand crore, in which Holcim holds 54.53%.

After this business deal, Gautam Adani, Chairman, Adani Group said that our foray into the cement business is another testament to our belief in the country's growth story. It is not only that India is expected to remain one of the largest demand driven economies of the world for several decades. India also remains the world's second largest cement market and yet accounts for less than half of the global average per capita cement consumption.