 "cement, ACC, Ambuja cement")
Billionaire Gautam Adani’s conglomerate is nearing a deal to acquire a controlling stake in Holcim Ltd.’s businesses in India, according to people familiar with the matter, giving Asia’s richest person a foothold in the subcontinent’s fragmented cement sector.
The Adani Group is hammering out the final details of a $10 billion deal for 63.1% of Ambuja Cements Ltd. along with related assets, the people said, asking not to be identified discussing confidential information. A transaction could be announced in the coming days, they said.
Bloomberg News reported in April that Holcim was in advanced talks with Adani Group over a
