Highlights

  • Holcim owns 63.1% of Ambuja Cements
  • Ambuja Cement in turn owns 50.05% of ACC Ltd

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Ambuja Cements, ACC up for sale?

Holcim Group is looking to exit India after 17 years as it has put Ambuja Cements and ACC up for sale.

Ambuja Cements and ACC could be on a sale as the Swiss-based parent company Holcim Group, which is also the biggest cement maker in the world, may soon exit India.

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As per reports, Holcim Group is looking to exit India after 17 years as it has been selling off non-core assets to reduce debt and diversify through acquisitions. It divested its Brazilian unit for $1 billion in September and is also planning to sell its business in Zimbabwe.

In what could potentially be the largest M&A deal in India, the combined market capitalisation of the two cement companies is Rs 1.14 lakh crore ($15 billion) with Ambuja alone being at Rs 73,349 crore ($9.7 billion).

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Holcim owns 63.1% of Ambuja Cements. Ambuja Cement in turn owns 50.05% of ACC Ltd. Holcim owns another 4.48% of ACC directly.

As per Economic Times, Holcim is believed to have held early-stage negotiations with JSW and Adani Group, among others, to explore their interest levels. Both are recent entrants in the cement sector but have aggressive plans to ramp up.

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