JSW Group To Make US$7bn Bid for Ambuja, ACC: Report
JSW group is expected to make a US$7bn (billion) bid for Holcim AG's Indian subsidiaries Ambuja Cements Ltd and ACC Ltd, the Financial Times reported.
 
The company will offer US$4.5 billion in its own equity and US$2.5 billion from undisclosed private equity partners for the bid, JSW group chairman Sajjan Jindal told the financial daily.
 
Further, it will acquire 63% stake in Ambuja Cements.
 
Bloomberg News had reported last month that Gautam Adani's conglomerate Adani Group was also in talks to buy Ambuja from Holcim as the latter has been trying to diversify away from its core business of cement and aggregates to focus more on building technology amid increased emphasis on sustainability.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
Comments
Housing Demand To Stay Firm amidst Rising Prices, Interest Rates: Report
Moneylife Digital Team 10 May 2022
The momentum in housing demand across India's top-6 cities is expected to continue this fiscal and grow 5%-10% despite rising property prices, interest rates and a high-base effect, says a research note.
 
Aniket Dani,...
Razorpay makes 650 employees rich with Rs 578 cr ESOP buyback sale
IANS 10 May 2022
Fintech platform Razorpay on Tuesday announced its fourth and largest employee stock ownership plan (ESOP) buyback sale for 650 existing and former employees for a $75 million (nearly Rs 578 crore) transaction.
 
To date,...
BharatPe to 'claw back' Ashneer's restricted shares, blocks vendors
IANS 10 May 2022
Leading fintech platform BharatPe on Tuesday said it has initiated necessary action against the company's former founder Ashneer Grover to "claw back his restricted shares as per the shareholders' agreement" and will take all steps...
After a Two-year Rally, Steel Prices Set To Bend on Weak Season: CRISIL
Moneylife Digital Team 09 May 2022
Domestic steel prices are showing signs of fatigue after a relentless rally over the past two years following supply disruptions, de-carbonisation measures globally, especially in China, and geopolitical risks stemming from the...
Free Helpline
Legal Credit
Feedback