There have been reports of Adani Group trying to buy the world’s largest cement company. The news is coming that the initial stage talks have been started by the Adani Group. As per a Bloomberg report, Gautam is in discussions with the Adani Group to take over the India business of Holcim Ltd.
According to media reports, at the beginning of April, Holcim, the world’s largest cement producer, held 63.1 percent stake in Ambuja Cement. Apart from this, Holcim has also shown readiness to sell its entire stake in ACC. Holcim is selling non-core assets as part of its worldwide business restructuring plan. The company sold its Brazilian unit in September for ₹1 billion and is also planning to sell its Zimbabwean business.
Established in 1983, Ambuja has a cement production capacity of 31 million metric tonnes and the company also has six integrated production plants and eight cement grinding units in India. Adani Enterprise Limited, the flagship firm of the Adani Group, currently has two cement subsidiaries. Adani Cementation Limited is planning to set up an integrated service in Gujarat. Gautam Adani established Adani Cement Limited in June 2021.