Gautam Adani Group to acquire Switzerland-based Holcim Ltd's entire stake in two Indian cement companies, Ambuja Cements Ltd and ACC Ltd. Cement Ltd, in a $10.5 billion deal.
The Adani Group said it will be acquiring 26% stake each in Ambuja Cements and ACC Ltd.
Gautam Adani group's Mauritius-based subsidiary Endeavor Trade and investment made an open offer. The offer for Ambuja Cements Ltd was at $0.013 (INR385) per share and $29.55 (INR2300) per share for ACC Ltd.
Adani has made an open offer to its public shareholders to acquire 51.63 crore equity shares of Ambuja Cements. Therefore, depicting 26% of the expanded share capital, aggregating to a total amount of INR19879.57 crore.
On other hand, Adani made an offer to its public shareholders to acquire up to 4.89 crore worth...
