LafargeHolcim

The shares of Ambuja Cement closed at Rs 453 a share -- far above the open offer price of Rs 385 a share -- making the offer unattractive for its shareholders.

The Adani Group is likely to launch next week an open offer worth Rs 31,000 crore to acquire 26 per cent stake each in Swiss firm Holcim's two Indian listed entities Ambuja Cements and ACC, from public shareholders. In May this year, the Adani Group announced that it has clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion. Markets regulator Sebi granted approval for the open offer this week. The open offer is estimated at over Rs 31,000 crore if fully subscribed. In two separate regulatory filings, Ambuja Cements and ACC have submitted their letter of offers for the open offer launched by the Adani family group's Mauritius-based firm Endeavour Trade and Investment. As per the revised schedule submitted by ICICI Securities and Deutsche Equities India - which are the managers of open offer - tendering of the shares in the open will start from August 26 as against the earlier date of July 6. This will end on September 9, 2022. In Ma

Cement production is a lucrative business in India's booming economy, with high demand especially from rural housing and infrastructure firms

On the merger and acquisition side, there were 40 transactions in May 2022, aggregating to USD 11.9 billion and more than a fourth of those came from the startup sector

As per the deal, Adani Group will acquire Holcim's full stake in Ambuja Cement and ACC for CHF (Swiss franc) 6.4 billion (USD 6.38 billion)

We are growing at quite a fast pace and the plan is, the proceeds from the divestment, we will continue to accelerate our strategy 2025 and acquire new companies: Jan Jenisch

JSW Group Chairman offers $7 billion for cement firm

The move comes as Switzerland's Holcim tries to diversify away from its core business of cement and aggregates to focus more on building technology amid increased emphasis on sustainability

Ambuja Cements Ltd has said it is looking at significant debottlenecking opportunities across all plants with growth plans in mid-term to reach 50 million tonnes per annum capacity

India's antitrust body conducted raids at offices of UltraTech Cement and two subsidiaries of the world's largest cement maker LafargeHolcim, two sources said

The world's biggest cement maker says its sales fell 11.2% to 5.29 billion Swiss francs ($5.42 billion), from 5.96 billion francs a year earlier

At ACC, Sridhar Balakrishnan, former chief commercial officer (CCO), has been elevated as the CEO and MD while Akhoury continues as a director on ACC's board.

Combined capacity will increase to 63 mtpa

Under Olsen's leadership, Lafarge merged with Swiss company Holcim in 2015 to create LafargeHolcim

Stake in ACC goes up to 54.53% from 50.34%

Adds that move is part of the company's $3.56 billion divestment programme