27 July, 2021

The Ties That Cement

The Ties That Cement
  • Holcim to buy the 40 per cent shareholding of private equity investors in Ambuja Cement India Ltd, which holds 13.8 per cent of ACC’s equity, for $200 million.

  • It will also subscribe to a preferential issue of ACIL for $600 mn, increasing its share to 67 per cent and correspondingly reducing Gujarat Ambuja’s to 33 per cent.

  • Through ACIL, Holcim has announced an open offer to acquire a majority shareholding in ACC up to 50.01 per cent, at Rs 370 a share.

  • Another open offer, again through ACIL, is to acquire the entire public shareholding of Ambuja Cement Eastern Ltd, in which ACIL holds 94 per cent equity, at Rs 70 a share.

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