In a move aimed at consolidating its Indian operations, Swiss cement major Holcim will increase its control in ACC and Gujarat Ambuja Cements for close to Rs 2,700 crore.
Holcim is in talks to buy Gujarat Ambuja Cements’ 33 per cent stake in Ambuja Cement India Ltd (ACIL) that, in turn, holds 35 per cent in ACC and 9.93 per cent in Gujarat Ambuja Cements. At present, Holcim owns 67 per cent in ACIL.
This will make ACIL a wholly-owned Holcim subsidiary.
Read more in The Business Standard Article.
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