Ahmedabad. Adani Group, the company of Asia’s richest man Gautam Adani, has made a big deal to establish its penetration in the cement business. The group has bought out the entire business of Holcim Group, the world’s largest Swiss cement maker, in India. Holcim Group’s two largest cement makers in India are ACC and Ambuja Cement. Both of them have been bought by Adani Group for $ 10.5 billion i.e. about 80000 crores. This is the costliest acquisition ever by an Indian company in the infrastructure and materials sector. The deal will be completed after the regulatory authority’s green signal.
The Holcim Group had bid for the acquisition of its companies. Adani Group won this bid. Adani Group will now own ACC and Ambuja Cement. ACC and Ambuja cement are the largest sellers in India. Sajjan Jindal’s JSW Group had also bid to buy these companies, but the deal went to Adani Group. Aditya Birla Group currently dominates the cement market in India. UltraTech is the largest cement manufacturer of this group. UltraTech manufactures 117 million tonnes of cement every year. At the same time, ACC and Ambuja together have a manufacturing capacity of 66 million tonnes.
Holcim Group was doing business in India for almost 17 years. After the takeover of the group, Gautam Adani issued a statement saying that our foray into the cement business is yet another testament to our faith in the country’s growth story. Adani Group’s port and logistics business, energy business and real estate business are included. We are confident that we will be able to build a uniquely integrated and distinctive business model. He added that Holcim’s global leadership brings to us some cutting edge technologies for green cement production, which will allow us to accelerate the path.