Completes acquisition of Ambuja Cements and ACC
- Largest acquisition in India’s Infrastructure and Materials space valued at USD 6.50 billion
- Post the transaction, Adani will hold 63.15% in Ambuja Cements and 56.69% in ACC (of which 50.05% is held through Ambuja Cements)
- The combined market capitalization of Ambuja Cements and ACC is USD 19 billion as on date
- With this acquisition, Adani is now India’s second largest cement manufacturer (capacity 67.5 MTPA)
- Enhanced corporate governance with 100% independent directors on Audit Committee and Nomination & Remuneration Committee
- Two new Board committees – Corporate Responsibility Committee and Public Consumer Committee – comprising solely of independent directors, will drive ESG assurance and consumer-first approach
AHMEDABAD, India, Sept. 16, 2022 /PRNewswire/ — The Adani Family, through Endeavour Trade and Investment Ltd (“BidCo”), a special purpose vehicle, has successfully completed the acquisition of Ambuja Cements Ltd and ACC Ltd. The transaction involved the acquisition of Holcim’s stake in Ambuja and ACC along with an open offer in both entities as per SEBI Regulations.
The value of the Holcim stake and open offer consideration for Ambuja Cements and ACC is USD 6.50 billionwhich makes this the largest ever acquisition by Adani, and also India’s Largest ever M&A transaction in the infrastructure and materials space. Post the transaction, Adani will hold 63.15% in Ambuja Cements and 56.69% in ACC (of which 50.05% is held through Ambuja Cements).
“What makes cement an exciting business is the headroom for growth in Indiawhich exceeds that of every other country well beyond 2050,” said Mr Gautam AdaniChairman, Adani Group. “Cement is a game of economics dependent on energy costs, …