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