Under the leadership of billionaire Gautam Adani, the Adani Group has done two big deals. While the first deal is related to the cement business, the second deal is related to the media sector. Adani Group has won the bid to acquire the Indian business of Holcim Group, Mint reported. This means that now the Adani Group will own the business of Holcim Group’s cement company – Ambuja Cements Ltd. and ACC Ltd. This deal has been done for about $ 10.5 billion (Rs 80,000 crore).
Let us tell you that Holcim Group has been doing business in India for almost 17 years. Holcim is primarily identified in India through Ambuja Cement, ACC Ltd. Ambuja Cement, ACC Limited is listed on the Indian Stock Exchange. The value of Ambuja Cements is more than 70 thousand crores. Holcim holds 63.19% stake in the company, while ACC’s market cap is more than Rs 40 thousand crore, in which the Swiss company holds 54.53%.
Increased dominance in the media sector: Apart from this, the Adani Group has also announced a big deal in the media sector. In fact, AMG Media Networks, a unit of Adani Enterprises, will buy 49 per cent stake in digital business news platform Quintillion Business Media Pvt Ltd.
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Earlier in March 2022, Adani Enterprises had announced to enter the media business by acquiring some stake in Quintillion Business Media (QBML). The amount in the deal has not been disclosed but Quint Digital Media Ltd has confirmed the deal through a regulatory notice sent to the stock exchanges.