Holcim to take total control of India’s ACIL

Holcim to take total control of India’s ACIL
Published: 29 April 2008

Holcim will take complete control of Ambuja Cements India Limited (ACIL) by buying the remaining 11 per cent from Ambuja Cements Ltd, a Holcim spokesman said on Monday.
 
Holcim said the deal, worth around SwFr150m ($145.3m), would be effective from April 30.
 
Ambuja Cements, in which Holcim owns about 46 per cent, is India’s third largest cement maker.
 
Holcim is pursuing an aggressive takeover policy as the building materials sector consolidates and benefits from strong demand in emerging markets, such as India and China, as a result of rapidly growing cities, housing shortages and infrastructure expansion.