Adani`s Acquisition of Holcim
Case Code: BSTR667 Case Length: 12 Pages Period: 2020-23 Pub Date: 2024 Teaching Note: Available |
Price: Rs.300 Organization : Adani Group Industry : Diversified Countries : India Themes: Diversification Strategy, Growth Strategy, Business Environment,Competitive Environment |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
In May 2022, the Adani Group (Adani), a leading Indian multinational business conglomerate, acquired a controlling stake in the Indian cement manufacturing subsidiaries of Switzerland-based construction behemoth the Holcim Group (Holcim). This was touted as India’s largest acquisition deal in the Indian cement industry. Holcim through its Indian subsidiary, Holcim (India) Private Limited (Holcim India) had a stake of 63.15% in Ambuja Cements Limited (ACL) and 56.69% in ACC Limited (ACCL) . Adani, under the leadership of its founder and Chairman, Gautam Shantilal Adani (Gautam), acquired the entire controlling stake of Holcim India in ACL and ACCL for an exchange value of US$ 10.5 billion..
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