Gautam Adani: Gautam Adani is fighting to buy the cement business of Holcim India, know what is development?

Guatm adani latest updates: Gautam Adani, one of the five richest people in the world, is trying to buy Holcim India’s cement business. Sources related to this matter have given this information.

Billionaire businessman Gautam Adani is going to enter into an agreement with Holcim to buy a controlling stake in Ambuja Cement Limited. JSW Group is also taking interest in rival companies buying Holcim’s stake in Ambuja Cement Ltd.

Ambuja Cement shares have gained 26 per cent in April alone. Now its market value has been around 10 billion dollars. Holcim India holds 63.1 per cent stake in Ambuja Cement. Holcim India is going to sell its stake in Ambuja Cement.

Holcim India’s Indian assets include ACC Cement and Ambuja Cement. ACC and Ambuja Cement have an annual production capacity of 66 million tonnes. Global banks Barclays, Deutsche Bank and ICICI and Axis Bank are helping Gautam Adani in this sale of Holcim’s Indian assets.

A source related to this matter said that both the parties have reached the final stage of talks to sign this deal. However, it is not yet clear whether the deal will go ahead or whether the shareholder’s approval will be received.

Till now no final decision has been taken in this regard. It is also not clear whether both the parties have signed any for this exclusive deal or not.

Gautam Adani’s rival JSW Group is also in the process of signing finance agreements to buy Holcim India’s business. Aditya Birla Group’s UltraTech is the country’s largest cement company with a production capacity of 117 million tonnes per annum.

Switzerland’s Holcim Group merged with French rival Lafarge in 2015 to expand its business worldwide. After this a mega entity Lafarge Holcim was formed. It is a European cement and building materials giant. After this, the company was restructured several times to comply with the rules of the antitrust regulator and it invested in Europe and Asia. This combine entity was rebranded as Holcim Group.