There is a race between two big Indian businessmen to buy the famous cement brand Ambuja and ACC in the country. According to the information, talks with Sajjan Jindal-led JSW Group and Adani Group are in the final stages of talks with Holcim, the promoter company of both the companies. Negotiations related to the sale-purchase agreement (SAP) of this deal can be completed by the end of May.
According to a report by Financial Time, JSW Group is likely to bid around $7 billion for the deal. Sajjan Jindal said on this that $4.5 billion of company’s equity and $2.5 billion would be offered by a private equity partner for this deal. He, however, did not name the private equity firm.
Adani also involved in the race: Holcim Group’s talks with Adani Group are also in the final stages. Although Adani Group is going to bid for how many billions? Information about this has not been revealed yet. It is worth noting that the Adani Group has been trying to make its entry in the cement business of the country for a long time. In June 2021 last year, Adani Enterprises, the flagship company of the Adani Group, informed the stock exchange that the company has formed a subsidiary to enter the cement business.