Holcim has closed the US$6.4 billion sale of its business in India, comprising its full stakes in Ambuja Cement, to the Adani Group.
This transaction strengthens Holcim’s balance sheet and enables the company to continue its acquisition strategy, building on recent investments of over CHF 5 billion ($5.2bn) in Solutions & Products.
Jan Jenisch, Holcim CEO, said: “I would like to thank our 10,700 Indian colleagues who have played an essential role in the development of our business over the years with their relentless dedication and expertise. I am convinced that the Adani Group is the right home for them and our customers to continue to thrive in the future.
“This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions, strengthening our balance sheet and giving us the firepower to continue our acquisition strategy.”
This transaction comprises Holcim’s entire 63.11% stake in Ambuja Cement, which owns a 50.05% interest in ACC, and its 4.48% direct stake in ACC.
