Adani Group may sign an agreement to purchase a majority share in Ambuja Cements Ltd from Swiss firm Holcim. Now, Ambuja is owned by the world’s largest cement company, which has a 63.1% share.
Ambuja Cements had a market value of $748.94 billion.
According to media sources, JSW Group, an Indian metals-to-cement giant, is among the other bids for the assets.
Holcim is attempting to diversify its business by focusing on building technologies rather than its main industry of cement and aggregates, as it places a greater emphasis on sustainability.
As per media sources, no final decisions have not been made yet regarding this decision.
Ambuja Cement was founded in 1983, with a cement capacity of 31 million metric tonnes, six integrated production plants and eight cement grinding units throughout India.
Adani Enterprises Ltd., the main company of the Adani Group, has two cement companies.
According to media sources, Adani Cementation Ltd. plans to establish an integrated factory in Gujarat.
Adani Cement Ltd. was founded by the group in June 2021.
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