Ambuja Cements-ACC deal likely to propel buyer to No. 2 position

The open offer for ACC will cost the acquirer Rs 10,800 crore, or $1.42 billion

The possible acquisition of Holcim India business will be one of the biggest inbound corporate deals in the country. Currently, Walmart Inc.’s $16-billion acquisition of Flipkart Online Services in 2018 remains the biggest acquisition of an Indian asset by any acquirer, followed by BP plc acquisition of 30 per cent stake in Reliance Industries’ 23 oil and gas production blocks in 2011 for $7.2 billion.

Bloomberg reported late on Wednesday night that Holcim — the world’s biggest cement maker — is considering a potential sale of its India business and gauging interest in its controlling stake in Ambuja Cement.

Holcim’s 63.19-per cent