New Delhi. Gautam Adani, one of the largest capitalists in Asia and India, has bought out Holcim’s entire stake in Ambuja Cements and ACC. He fixed this deal for about $ 6.4 billion. With this deal, Adani Group has become the second largest cement company in the country in a single stroke. Gautam Adani has taken over as the chairman of Ambuja Cement. At the same time, he has handed over the command of ACC to his elder son Karan Adani. It is worth noting that the Tata Group also had a stake in ACC at one point of time but in 1999 it was sold to Ambuja Cements. Let us tell you, recently Adani Group has overtaken the Tata Group and has also won the title of the country’s most valuable business group. It is worth noting that at present the revenue of ACC is Rs 16,151 crore. Karan Adani is going to take over its command at a time when there is a possibility of a lot of turmoil in the cement sector.
Let us inform that at present, UltraTech Cement, a company of Aditya Birla Group, remains the largest cement producer in the country. But if experts are to be believed, after the entry of the Adani Group into the cement sector, there could be a fierce competition in it. According to the information received, the Adani Group has set a target to emerge as the country’s largest cement company by the year 2030. In such a situation, it is being speculated that in the future, this group may acquire many other smaller companies. ACC was formed in the year 1936 by ten cement companies. The Tatas once had a small stake in it. But in the year 1999, Tata sold its stake to Ambuja Cements. After the acquisition, Adani Group has acquired 63.11 percent stake in it.
Karan Adani Qualification
Karan Adani is the son of Gautam Adani. He is 35 years old. According to the information received, Karan Adani has played a key role in the acquisition of Ambuja Cements and ACC. Karan, who took up the task of grooming the 86-year-old company ACC, is also currently the CEO of Adani Ports. Karan Adani holds a degree in Economics from Purdue University. He then started his corporate career with Mundra Port.