CCI approves Adani acquisition of Ambuja and ACC stakes

The Competition Commission of India (CCI) has approved the acquisition of Holcim’s stake in Ambuja Cements Ltd and its subsidiary ACC Ltd by the Adani Group. The deal, which was initially entered into by Adani in May this year, will propel the group to become India’s second-largest cement producer.

Holcim currently holds a 63.11 per cent share in Ambuja Cements and a 4.48 per cent share in ACC. Furthermore, Ambuja holds a 50.05 per cent stake in ACC.

The acquisition will be made by Endeavour Trade and Investments, a newly incorporated company belonging to the Adani Group.