Connect with us


Adani to Acquire Holcim's Stake in Ambuja Cements and ACC Limited



Adani to Acquire Holcim's Stake in Ambuja Cements and ACC Limited

Largest Ever Acquisition in India’s Infra and Materials space valued at USD 10.5 billion

Editor’s Synopsis

  • Acquisition propels Adani into the cement business, and will establish its new materials, metal and mining vertical
  • With this, Adani is now India’s second largest cement manufacturer (capacity ~70 MTPA)

AHMEDABAD, India, May 15, 2022 — The Adani Family, through an offshore special purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Switzerland-based Holcim Ltd’s entire stake in two of India’s leading cement companies – Ambuja Cements Ltd and ACC Ltd.

Holcim, through its subsidiaries, holds 63.19% in Ambuja Cements and 54.53% in ACC (of which 50.05% is held through Ambuja Cements). The value for the Holcim stake and open offer consideration for Ambuja Cements and ACC is USD ~10.5 billion, which makes this the largest ever acquisition by Adani, and India’s largest ever M&A transaction in the infrastructure and materials space.

“Our move into the cement business is yet another validation of our belief in our nation’s growth story,” said Mr Gautam Adani, Chairman of the Adani Group. “Not only is India expected to remain one of the world’s largest demand-driven economies for several decades, India also continues to be the world’s second largest cement market and yet has less than half of the global average per capita cement consumption. In statistical comparison, China’s cement consumption is over 7x that of India’s. When these factors are combined with the several adjacencies of our existing businesses that include the Adani Group’s ports and logistics business, energy business, and real estate business, we believe that we will be able to build a uniquely integrated and differentiated business model and set ourselves up for significant capacity expansion.”

Mr Adani added, “Holcim’s global leadership in cement production and sustainability best practices brings to us some of the cutting-edge technologies that will allow us to accelerate the path to greener cement production. In addition, Ambuja Cements and ACC are two of the strongest brands recognized across India. When augmented with our renewable power generation footprint, we gain a big headstart in the decarbonization journey that is a must for cement production. This combination of all our capabilities makes me confident that we will be able to establish the cleanest and most sustainable cement manufacturing processes that will meet or exceed global benchmarks.”

“I am delighted that the Adani Group is acquiring our business in India to lead its next era of growth,” said Mr Jan Jenisch, CEO of Holcim Limited. “Mr Gautam Adani is a highly recognized business leader in India who shares our deep commitment to sustainability, people and communities. I would like to thank our 10,000 Indian colleagues who have played an essential role in the development of our business over the years with their relentless dedication and expertise. I am confident that the Adani Group is the perfect home for them as well as our customers to continue to thrive.”

With India’s cement consumption at just 242 kg per capita, as compared to the global average of 525 kg per capita, there is significant potential for the growth of the cement sector in India. The tailwinds of rapid urbanization, the growing middle class and affordable housing together with the post-pandemic recovery in construction and other infrastructure sectors are expected to continue driving the growth of the cement sector over the next several decades.

Ambuja Cements and ACC currently have a combined installed production capacity of ~70 MTPA. The two companies are among the strongest brands in India with immense depth of manufacturing and supply chain infrastructure, represented by their 23 cement plants, 14 grinding stations, 80 ready-mix concrete plants and over 50,000 channel partners across India.

Both Ambuja and ACC will benefit from synergies with the integrated Adani infrastructure platform, especially in the areas of raw material, renewable power and logistics, where Adani Portfolio companies have vast experience and deep expertise. This will enable higher margins and return on capital employed for the two companies. The Companies will also benefit from Adani’s focus on ESG, Circular Economy and Capital Management Philosophy. The businesses will continue to be deeply aligned to UN Sustainability Development Goals with clear focus on SDG 6 (Clean Water and Sanitation), SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities) and SDG 13 (Climate Action).

The acquisition is subject to regulatory approvals and conditions.

About Adani

Headquartered in Ahmedabad, India, Adani is the largest and fastest-growing portfolio of diversified businesses in India with interests in Logistics (seaports, airports, logistics, shipping and rail), Resources, Power Generation and Distribution, Renewable Energy, Gas and Infrastructure, Agro (commodities, edible oil, food products, cold storage and grain silos), Real Estate, Public Transport Infrastructure, Defence & Aerospace, and other sectors.

Adani owes its success and leadership position to its core philosophy of ‘Nation Building‘ and ‘Growth with Goodness‘ – a guiding principle for sustainable growth. The Group is committed to protecting the environment and improving communities through its CSR programmes based on the principles of sustainability, diversity and shared values. For more information, please visit

About Holcim

Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy Holcim is becoming a net zero company, with its people and communities at the heart of its success.

The company is driving the circular economy as a world leader in recycling to build more with less. Holcim is the company behind some of the world’s most trusted brands in the building sector including ACC, Aggregate Industries, Ambuja Cement, Disensa, Firestone Building Products, Geocycle, Holcim and Lafarge. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


NowCM opens its main developer hub in Portugal



NowCM opens its main developer hub in Portugal

By doing so NowCM joins the vibrant Portuguese tech scene of established and new players. This further strengthens the position of NowCM as the leading European primary capital markets service provider.

“Now is the time! It was the right choice at the right time”- says CEO and Founder, Robert Koller.

As the world’s first fully compliant and cloud-native transaction management platform and regulated primary marketplace, NowCM opens its third European office in sunny Portugal.

The decision to choose Portugal as a new location was based on a list of comprehensive criteria of key cultural and growth factors, including availability of top talent, fintech ecosystem, regulation, entrepreneurial mindset, and work-life balance.

Robert adds: “We are solution-seekers and bold builders of the future of finance. Our fast-growing team consists of 40 diverse individuals amongst which are 20 in-house IT experts whose skills we are very proud of. We value our people and their time by offering them a state-of-the-art tech tooling arena and meaningful responsibility in helping to shape the global financial future rather than burning energy on daily repetitive manual tasks in a square city office space. NowCM is a catalyst in the digitisation of primary markets beyond process automation. Our concept shows the intelligence of focusing on live execution of important transactions rather than on out-dated Excel and Word processes.”

Portugal with its good weather and one of the best life quality indexes for expats (according to InterNations, Expat Insider 2022) is a perfect location for NowCM’s strategic expansion. NowCM new office is located in Lagoas Business Park, where global tech companies like Google, Samsung, Dell and Cisco among others are based.

NowCM Tron-style office design features sustainable solutions like indoor farms and game-changing futuristic experiences to create a new safe, productive and enjoyable place to work in creative and smart ways. It will serve as a hub for employees as well as a location for client training programmes.

“After COVID-19 the office experience won’t remain as it was before the pandemic. In NowCM we know that virtual collaborations are working well, however we believe there should be a new era of tech spaces to meet and ask important questions, to develop collaboration, productivity, culture, and work experiences” – says Robert.

Last week NowCM welcomed its global team in their new office in Lagoas Business Park and held an opening event for its team and family members together with business partners, clients and journalists. A big surprise during the event was a drone race (organised by NowCM partners, where everyone could support one of the pilots and explore the NowCM office from a different angle.

Continue Reading


Safenetpay changes its name to Moneff



Safenetpay changes its name to Moneff

Safenetpay announced its rebrand and name change to Moneff. The rationale behind the new name has been to more closely reflect the change in Moneff’s proposition from a pure payments company to an expanded portfolio of streamlined and efficient services to support SMEs.

SMEs and entrepreneurs need easy-to-access solutions that manage their money. Despite SMEs making up 99% of all registered businesses in the UK, high street banks and mainstream lenders continually overlook or reject entrepreneurs, and charge extortionately high rates for business accounts and cross-border transfers.

Moneff helps small businesses move their money more efficiently by providing a one-stop hub for free* multi-currency business accounts, transfers with competitive FX rates, card issuing and online payment processing services. By creating a global financial infrastructure using innovative API-led cloud technology and leveraging strategic partnerships, Moneff aims to create a fairer and more progressive financial ecosystem for the 22.6 million small and medium-sized enterprises (SMEs) across the UK and EU.

“We felt it was necessary to change the name of the company to more accurately reflect our offering of helping small businesses manage their money efficiently,” said Sanjar Mavlyanov, CEO and founder of Moneff.

“We want our customers to be focused on improving their business, rather than being distracted by dealing with multiple vendors. That’s why we are building an ecosystem of business tools that helps companies grow and save them money” added Dilshod Mikhmanov, Moneff’s Co-founder and CFO.

By providing small businesses with free*, borderless and frictionless e-money accounts, Moneff is democratising the customer experience by putting their needs first and offering a true money solutions alternative for businesses of all types. Moneff prides itself in providing high levels of customer service, and is always seeking to refine and develop our business practices to achieve best results for its clients.

* Subject to eligibility criteria.


Moneff is the one-stop hub for small business owners. We enable SMEs and sole traders to move their money efficiently by offering free multi-currency business accounts (subject to eligibility), transfers with competitive FX rates, card issuing and online payment processing services.

Previously known as Safenetpay, Moneff (now a trading name of Safenetpay Services Company Ltd) was founded in 2016 and headquartered in London. Moneff is authorised as an Authorised Electronic Money Institution by the United Kingdom Financial Conduct Authority (FCA), and has been granted an EMI (Electronic Money Institution) licence by the Danish Financial Supervisory Authority.

Continue Reading


Singapore holds lead position in Omdia Fiber Development Index



Singapore holds lead position in Omdia Fiber Development Index

Singapore has again emerged as leader in Omdia’s Global Fiber Development 2022 Index, with maximum scores in seven of the nine metrics. It is closely followed by South Korea, China, the UAE, Qatar, and Japan. All territories in the leading cluster benefit from strong national broadband plans with ambitious targets around ultra-high-speed services.

Historically, several otherwise highly developed broadband territories that rank lower in the fiber index tended to suffer from less clear or ambitious national plans, providing weaker incentives for operators to invest. However, due in part to the COVID-19 crisis demonstrating how important broadband networks are, governments are now strengthening their broadband targets and increasing their focus and investments in fiber-based infrastructure.

Research Director Michael Philpott said: “Fiber investment is an essential metric for government institutions and other stakeholders to track. As a broadband-access technology, optical fiber provides an optimized, highly sustainable, and future-proof quality service. This superior level of quality is essential for the development of future digital services and applications across all verticals.

“With increased efficiency stimulating greater innovation, high-speed broadband has been proven to drive not just consumer satisfaction but national economic indicators such as GDP and productivity. Only by maximizing investment in next-generation access can countries optimize their growth potential, and fiber-optic technology is key to that investment.”

Omdia’s Fiber Development Index tracks and benchmarks fiber a broad set of fiber investment metrics across 88 countries, including:

  • Fiber to the premises coverage
  • Fiber to the household penetration
  • Fiber to the business penetration
  • Mobile cell site fiber penetration
  • Advanced WDM technology investment

Based on Omdia’s analysis of Ookla Speedtest data, the Index also quantifies the overall broadband quality of experience improvements driven by that investment, namely:

  • Median download speed
  • Median upload speed
  • Median latency
  • Median jitter

Michael Philpott and a team of Omdia analysts will be presenting and debating a wide range of upcoming telecoms issues and trends at Network X between 18-20 October 2022. Register for a media pass or request a virtual briefing here.


Omdia, part of Informa Tech, is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.

Continue Reading


Subscribe to our Free Newsletter

Get Business and Marketing Insights from Experts, only onTimes of Startups!

Your Information will never be shared with any third party