Cement News tagged under: Holcim India
Adani Group in discussions to raise US$4.5bn13 June 2022, Published under Cement NewsFollowing its acquisition of Holcim’s business in India, the Adani Group is in discussions with more than a dozen foreign banks in a bid to raise US$4.5bn. According to The Economic Times, this marks one of the largest loan-based fundraisings in foreign currency by an Indian corporate entity. The proposed loan structures include mezzanine financing, stock-backed bridge loans to be repaid in cash, and a senior debt facility for 18 months. The mezzanine financing may raise US$1bn, while the... |
Adani Group acquires Holcim India16 May 2022, Published under Cement NewsAdani Group has agreed to purchase Holcim India for CHF6.4bn (US$6.37bn). The deal includes Holcim’s 63.11 per cent stake in Ambuja Cement, which owns a 50.05 per cent interest in ACC, as well as its 4.48 per cent direct stake in ACC. The combined footprint of Ambuja Cement and ACC includes 31 cement production sites with a total cement production capacity of 66Mta and 78 ready-mixed concrete plants across India. The transaction is expected to complete in the second half of 2022. “Wit... |
JSW Group to submit bid for Holcim India11 May 2022, Published under Cement NewsJSW Group has revealed plans to submit a US$7bn bid for a controlling stake in Holcim’s India assets. Holcim currently holds a 63.1 per cent share in Ambuja Cements and a 4.48 per cent share in ACC , with Ambuja controlling a 50.05 per cent stake in ACC. Speaking to Financial Times, Sajjan Jindal, chairman and managing director of JSW Group, said that the company would fund US$4.5bn of the bid while private equity players would provide the remaining US$2.5bn. JSW Group currently ... |
Dalmia Bharat joins the Holcim India race03 May 2022, Published under Cement NewsDalmia Bharat Ltd is reportedly planning to bid for Holcim’s India businesses. According to sources close to Dalmia, the company is in talks with banks to secure financing for the bid which would add almost 65Mta of capacity to Dalmia’s existing 35Mta. UltraTech Cement, part of the Aditya Birla Group, is also planning to join the race for the Holcim assets - ACC Ltd and Gujarat Ambuja Ltd – but is concerned that its current capacity of almost 120Mta may come up against resistance fro... |
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