Adani acquires Ambuja Cements and ACC

Adani ambuja cement and acc cement

Adani has become India's second largest cement player by acquiring Ambuja Cements & ACC Ltd. Adani family, through their special purpose vehicle Endeavour Trade and Investment Ltd, completed the acquisition after completing the transaction with Swiss firm Holcim and an open offer.

The value of the Holcim stake and open offer consideration for Ambuja Cements and ACC is USD 6.50 billion, which made this the largest ever acquisition by Adani, and India's largest ever M&A transaction in the infrastructure and materials space.

Karan Adani, the elder son of Gautam Adani, is set to oversee the family’s scaled up cement business.

: Published: 19 September 2022

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