Holcim raises Ambuja Cements India holding to 78 per cent

Holcim raises Ambuja Cements India holding to 78 per cent
Published: 27 February 2007

Holcim Ltd confirmed it has raised its stake in Ambuja Cements India Ltd (ACIL) by another 11 per cent, bringing its total holding to 78 per cent.  
 
The Swiss cement maker is paying SwFr147m for the stake, a spokesman said. 
 
In 2005, Holcim bought a 67 per cent stake in the group worth around US$800m.  
 
An Indian newspaper last week reported that Holcim had bought the entire 33 per cent it did not previously own. The report was subsequently denied by the Swiss group.