Cement News tagged under: Adani Group
Adani plans management shake-up following takeover12 September 2022, Published under Cement NewsGautam Adani, his son Karan and his nephew Pranav, are expected to join the management boards of ACC Ltd and Ambuja Cements . As part of an overhaul of the top management of both companies, following their takeover by the Adani Group , some existing members of the boards are expected to step down, including the following board members at Ambuja Cements: N S Sekhsaria, chairman, Jan Jenisch, vice chairman, Neeraj Akhoury, managing director and CEO, and Martin Kriegner, director – one sour... |
Adani Group scouts for M&A chief08 September 2022, Published under Cement NewsThe Adani Group is looking to recruit a new chief of mergers and acquisitions, replacing Vinod Bahety, who is moving to a new role within the company. According to Financial Express Online, so far this year the Adani Group has agreed to buy Holcim’s cement business in India in a US$10.5bn deal, has promised to invest US$70bn in green energy, and recently launched a hostile takeover of New Delhi Television Ltd. Owner Gautam Adani has been named as the world’s third-richest person, beh... |
CCI approves Adani acquisition of Ambuja and ACC stakes16 August 2022, Published under Cement NewsThe Competition Commission of India (CCI) has approved the acquisition of Holcim ’s stake in Ambuja Cements Ltd and its subsidiary ACC Ltd by the Adani Group. The deal, which was initially entered into by Adani in May this year, will propel the group to become India’s second-largest cement producer. Holcim currently holds a 63.11 per cent share in Ambuja Cements and a 4.48 per cent share in ACC. Furthermore, Ambuja holds a 50.05 per cent stake in ACC. The acquisition will b... |
Ambuja Cements embraces digitalisation16 June 2022, Published under Cement NewsAmbuja Cements Ltd ( Holcim group ) has renewed its focus on digitalisation. This will remain a key area for Ambuja Cements as it reshapes the way the company operates from running the plants to managing logistics and supply chains and ensuring customer connect. To this end, the company has invested in its ‘Plants of Tomorrow’ initiative, which aims to make manufacturing more efficient through better plant optimisation, higher plant availability and a safer working environment. Under th... |
Adani Group in discussions to raise US$4.5bn13 June 2022, Published under Cement NewsFollowing its acquisition of Holcim’s business in India, the Adani Group is in discussions with more than a dozen foreign banks in a bid to raise US$4.5bn. According to The Economic Times, this marks one of the largest loan-based fundraisings in foreign currency by an Indian corporate entity. The proposed loan structures include mezzanine financing, stock-backed bridge loans to be repaid in cash, and a senior debt facility for 18 months. The mezzanine financing may raise US$1bn, while the... |
What to make of Holcim's Indian exit?20 May 2022, Published under Cement NewsHolcim Group agreed to sell its Indian cement businesses this week for US$10.5bn in cash to the Adani Group. ICR reports on the deal and what this means for the Indian cement sector and Holcim going forward. The Adani Group is a coal, power, ports and renewable energy conglomerate that had only a small footprint (Adani Enterprises Ltd) in the cement sector before its interest in Holcim companies, ACC Ltd and Ambuja Cements. The latest acquisition will make Adani the second-largest player ... |
Adani Group acquires Holcim India16 May 2022, Published under Cement NewsAdani Group has agreed to purchase Holcim India for CHF6.4bn (US$6.37bn). The deal includes Holcim’s 63.11 per cent stake in Ambuja Cement, which owns a 50.05 per cent interest in ACC, as well as its 4.48 per cent direct stake in ACC. The combined footprint of Ambuja Cement and ACC includes 31 cement production sites with a total cement production capacity of 66Mta and 78 ready-mixed concrete plants across India. The transaction is expected to complete in the second half of 2022. “Wit... |
Aditya Birla Group will consider buying Holcim's Indian assets26 April 2022, Published under Cement NewsKumar Mangalam Birla, chairperson of Aditya Birla, is reportedly looking at ways to make a bid for ACC Ltd and Ambuja Cements that Holcim intends to divest, according to The Economic Times. UltraTech Cement ( Aditya Birla Group ) may look to expand its leading position in the market as any producer that picks up the Holcim assets in India will automatically become a contender to UltraTech Cement , as Holcim is the second-largest player in the Indian cement sector. However, analysts bel... |