Cci gives a nod to the acquisition of Acc, Ambuja Cements by Adani Group


By CNBCTV18.com IST (Released)

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In May, Adani Group announced an agreement to acquire a majority stake in Holcim Ltd’s India operations – Ambuja Ltd and ACC Ltd. At the same time, the Adani Group had made an open offer to the public shareholders of the two companies to acquire a 26% stake. everyone in the business.

The Indian Competition Commission (ICC) has given its approval for the acquisition of Holcim’s stake in Ambuja Ltd and ACC Ltd by Adani Group. In a tweet on Friday, the watchdog said it had approved “the acquisition of the stake in Holderind Investments, Ambuja Cements and ACC by Endeavor Trade and Investment.”

The proposed combination involves the acquisition of a 100% stake in Holderind Investments Ltd by Endeavor Trade and Investment Ltd. Endeavor Trade and Investment Ltd is a Mauritius-based company and belongs to the Adani Group.

Holderind Investments is owned by Holderfin BV and is part of the Swiss-based Holcim Group and is a holding company of cement manufacturers Ambuja Cements and ACC Ltd. Holderind Investments held a 63.11% stake in Ambuja Cements and a 4.48% stake in ACC, Ambuja held a 50.05% stake in ACC.

The regulator has also approved Endeavor’s open offer for a new acquisition of up to 26% each in Ambuja Cements and ACC. Transactions above a certain threshold require approval from the regulator, which keeps an eye on unfair trading practices in the market.


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