India’s Holcim ups stake in Ambuja Cements to 46% for US$780m

India’s Holcim ups stake in  Ambuja Cements to 46% for US$780m
Published: 07 December 2007

Holcim said it has increased its stake in  Ambuja Cements by 13 per cent to 46 per cent for US$780m through an open offer. Holcim increased its stake in the domestic cement maker by 13 per cent since August and now owns 46 per cent in it, the company said in a statement. 
 
* It has raised the stake through acquisition of a block of shares from the funding families, the related mandatory offer and open market purchases.  
 
* The shareholders of  Ambuja Cements have tendered in just 5 per cent stake to the  Holcim in the open offer. SUMMARY  
 
India’s Holcim Ltd has increased its stake in  Ambuja Cements by 13% to 46% for US$780 mln through an open offer