Adani Group to acquire Holcim’s India business

Holcim Group Services Ltd / Key word(s): Acquisition Adani Group to acquire Holcim’s India business 15-May-2022 / 17:59 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Adani Group to acquire Holcim’s full stakes in Ambuja Cement and ACC for CHF 6.4 billion   Holcim to focus on expanding Solutions & Products, building on recent investments of CHF 5 billion     Holcim has signed a binding agreement for the Adani Group to acquire its business in India, comprising its 63.11% stake in Ambuja Cement, which owns a 50.05% interest in ACC, as well as its 4.48% direct stake in ACC. The corresponding offer share prices of INR 385 for Ambuja Cement and INR 2,300 for ACC translate into cash proceeds of CHF 6.4 billion for Holcim.

Adani Group is a leading and highly recognized company in India, with a portfolio of world-class businesses ranging from infrastructure to energy. Since entering India in 2005, Holcim has established a track record of sustainable value creation with strategic investments ranging from new best-in-class plants to green technologies such as heat recovery systems.

Jan Jenisch, CEO, Holcim: “With the Adani Group, we have found a perfect owner to unleash our Indian business’ next era of growth for our people and all stakeholders in a swift and efficient transaction. I am proud of Holcim’s track record in the Indian market, where we significantly increased our capacity over the years, while advancing our leadership in sustainability.

“The construction sector has never been as attractive as it is today, with so many opportunities to build

better and more with less, to improve living standards for all in a sustainable manner. In the last twelve months, we have invested CHF 5 billion in Solutions & Products as a new growth engine for the company, while continuously pursuing bolt-ons in aggregates and ready-mix concrete. Holcim is ready to seize further opportunities, in line with our ‘Strategy 2025 – Accelerating Green Growth’, to become the global leader in innovative and sustainable building solutions.