CHART OF THE WEEK 📈
Adani announced a US$10.5 billion deal to acquire Holcim’s stake in Ambuja Cements, and its subsidiary ACC.
The Adani group then made open offers to the public shareholders of the two companies, which would cost the group upwards of Rs. 30,000 crore.
Ambuja and ACC were owned by the Holcim Group, and have been laggards on expansion for the last decade. The Holcim Group found it unviable to expand capacity in India given the low ROIs.
This led to players like Shree Cement and Dalmia Bharat gaining ground, especially in a rapidly expanding market like India.
However, this might change now that the Adani group has taken over.
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