Holcim Group Services Ltd / Key word(s): Miscellaneous
Holcim closes India divestment
16.09.2022 / 07:00 CET/CEST
Holcim has closed the sale of its business in India to the Adani Group, comprising its full stakes in Ambuja Cement at a share price of INR 385 and in ACC at a share price of INR 2,300, resulting in cash proceeds of USD 6.4 billion for Holcim. This transaction strengthens Holcim’s balance sheet and enables the company to continue its acquisition strategy, building on recent investments of over CHF 5 billion in Solutions & Products.
Jan Jenisch, Holcim CEO: “I would like to thank our 10,700 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 convinced that the Adani Group is the right home for them as well as for our customers to continue to thrive in the future.
“This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions, strengthening our balance sheet and giving us the firepower to continue our acquisition strategy.”
This transaction comprises Holcim’s entire 63.11% stake in Ambuja Cement, which owns a 50.05% interest in ACC, as well as its 4.48% direct stake in ACC.
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 circular construction as a world leader in recycling to build more with less. 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.
Learn more about Holcim on www.holcim.com, and by following us on LinkedIn and Twitter.
Important disclaimer – forward-looking statements:
This document contains forward-looking statements. Such forward-looking statements do not constitute forecasts regarding results or any other performance indicator, but rather trends or targets, as the case may be, including with respect to plans, initiatives, events, products, solutions and services, their development and potential. Although Holcim believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions as at the time of publishing this document, investors are cautioned that these statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are difficult to predict and generally beyond the control of Holcim, including but not limited to the risks described in the Holcim's annual report available on its website (www.holcim.com) and uncertainties related to the market conditions and the implementation of our plans. Accordingly, we caution you against relying on forward-looking statements. Holcim does not undertake to provide updates of these forward-looking statements.
End of Media Release