Gautam Adani Completes Takeover Of Ambuja And ACC For $6.5 Billion

Gautam Adani, Asia's richest man, has finalized the acquisition of cement companies Ambuja and ACC. Karan Adani, Gautam Adani's oldest son, will take over the cement industry.
Gautam Adani Completes Takeover Of Ambuja And ACC For $6.5 Billion
Adani Group completed the acquisition of Ambuja and ACC Cement on Friday.

Gautam Adani, Asia's richest man, has finalized the acquisition of cement companies Ambuja and ACC. Karan Adani, Gautam Adani's oldest son, will take over the cement industry. Adani Group completed the acquisition of Ambuja and ACC Cement on Friday (September 16) for $ 6.5 billion, or 51.79 thousand crores.

Karan has been appointed chairman and non-executive director of ACC

Adani Group has become the country's second-largest cement maker as a result of this acquisition. UltraTech Cement, owned by the Aditya Birla Group, ranks first in cement output. According to reports, Gautam Adani has been appointed chairman of Ambuja Cement. Karan Adani, 35, was appointed non-executive director at the same time.

In addition, Karan has been named chairman and non-executive director of ACC. Karan is now the CEO of Adani Ports and Special Economic Zone Limited (APSEZ). Adani Group's purchase is the largest in India's infrastructure and materials sector.

Following regulatory clearance, the transaction was finalized

Following regulatory clearance, the transaction was finalized. Ambuja Cement's open offer price was Rs 385 per share, whereas ACC's was Rs 2,300 per share. The value of Holcim's holding in Ambuja Cement, ACC, and the open offer consideration was $6.5 billion.

The group will raise Rs. 20,000 crores through warrants

Ambuja Cements' board of directors has also authorized convertible warrants for preferred issuance to Adani Group's promoter company. The group will raise an additional 20 thousand crore rupees as a result of this. This investment will be used by the business to increase cement production capacity to achieve its aim of being India's largest cement manufacturer by 2030.

Holcim Company owned ACC-Ambuja

Holcim Company owned ACC (Associated Cement Companies) and Ambuja. It is a construction materials firm established in Switzerland. ACC was founded on August 1, 1936, in Mumbai. Many groups had built the groundwork at the time. Narottam Sekhsaria and Suresh Neotia launched Ambuja Cement in 1983.

Holcim will span 17 years of operations

Holcim Company began operations in India 17 years ago. It is regarded as the world's largest cement manufacturer. Following this transaction, the company will conclude its operations in India. Holcim Group has an interest in two cement firms in India, Ambuja Cement, and ACC Limited.

Holcim owned 63.19% of Ambuja Cements through Holderind Investments Limited and 54.53% of ACC (with Ambuja Cements accounting for 50.05%). Adani Group has now acquired the entirety of Holcim's interest in Ambuja Cement and ACC.

Holcim owned 63.19% of Ambuja Cements through Holderind Investments Limited and 54.53% of ACC (with Ambuja Cements accounting for 50.05%). Adani Group has now acquired the entirety of Holcim's interest in Ambuja Cement and ACC.

Manufacturing and supply chain infrastructure that is second to none

Currently, Ambuja Cements and ACC have a combined installed production capacity of 70 MTPA (Enum per Million Tonnes). Both enterprises are among the most powerful brands in India, with superior production and supply chain infrastructure.

In India, they have 23 cement facilities, 14 ground stations, 80 ready-mix concrete plants, and over 50,000 channel partners. At the same time, Aditya Birla Group's Ultra Tech Cement is the largest enterprise in the country. It has a capacity of 119 million metric tons per year.

Adani is concentrating its efforts on infrastructure and renewable energy firms

The majority of the Adani Group's recent transactions have included infrastructure and renewable energy enterprises. Cement, ports, and energy projects are among them. Adani Group has purchased a stake in Ambuja and ACC Cement from Holcim.

Gautam Adani has an estimated net worth of Rs 12.34 lakh crore

Gautam Adani became the world's second richest businessman a day early, on September 16, according to Forbes' Real-Time Billionaires List, with a net worth of $ 154.7 billion (about Rs 12.34 lakh crore). However, Adani quickly dropped back to third place on Forbes' real-time ranking. Only Elon Musk (Tesla) and Bernard Arnault (LVMH) have a higher net worth than Adani. These are the world's ten wealthiest businessmen.

Gautam Adani Completes Takeover Of Ambuja And ACC For $6.5 Billion
Gautam Adani Surpass Jeff Bezos, Became World's Second Richest Person

Related Stories

No stories found.
Since independence
www.sinceindependence.com