By acquiring Ambuja Cements & ACC Ltd, Adani has risen to the position of second-largest cement producer in India. After concluding a deal with the Swiss company Holcim and an open offer, the Adani family’s special purpose business Endeavour Trade and Investment Ltd finished the acquisition.
With a combined value of USD 6.50 billion for the Holcim holding and open offer consideration for Ambuja Cements and ACC, this was both Adani’s largest acquisition to date and India’s largest M&A deal in the infrastructure and materials sector.
Gautam Adani’s eldest son, Karan Adani, will be in charge of managing the expanded cement operation.
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