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Holcim Limited board to take a call on sale of India business soon: Sources

Holcim Limited board to take a call on sale of India business soon: Sources

Holcim Limited board to take a call on sale of India business soon: Sources
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By CNBCTV18.com May 15, 2022 8:40 PM IST (Updated)

Adani Group is likely to be the frontrunner for Holcim's India assets, sources said, adding that the other bidders for the company's India business include JSW and Birla Group. 

The board of Holcim Limited, which is the largest cement maker in the world, will take a call on the sale of its India business soon, people in the know of the matter told CNBC-TV18.

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Adani Group is likely to be the frontrunner for Holcim's India assets, sources said, adding that the other bidders for the company's India business include JSW and Birla Group.
The sources said that Holcim is keen on getting the deal done at the earliest and was keen to actively engage with bidders who had financing tied up. The company was also keen to avoid competition related issues that could delay the deal.
The world's largest cement maker Holcim last month announced its exit from the country. The company through two listed entities ACC and Ambuja has 66 million tonne per annum capacity (MTPA).
The group entered the market 17 years ago and the exit will put its listed arms, Ambuja and ACC, up for sale. Holcim holds a 63.19 percent stake in Ambuja and a 4.48 percent in ACC while Ambuja owns a 50.05 percent stake in ACC.
Holcim's exit is part of the group's 'strategy 2025' that aims for sustainable solutions for the building materials sector. The significance of cement in the overall group is already declining compared to ready mix concrete, aggregates, roofing, and green building solutions.
"We will reach 30 percent of group net sales in solutions and products…" the company had said last November last year while announcing its new vision.
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