Holcim's sale of Ambuja Cement, ACC to be biggest exit of an MNC from India

Ambuja Cement ended Friday with a market capitalisation of Rs 73,836 crore while ACC closed the day with Rs 43,819 crore.

The much-talked-about sale of Ambuja Cement and ACC by Holcim Group will see the single-biggest outflow of foreign capital from the country if the two cement firms are acquired by Indian investors.

The deal, valued at nearly $10.35 billion, will put in the shade Cairn Energy Plc’s exit from India in 2010, when it sold Cairn India to Vedanta Group for $4.48 billion.

According to various reports, big business groups such as AV Birla, JSW Group, and Adani Group are in the fray to acquire Holcim’s assets in India.

Switzerland-based Holcim Group is expected to get nearly Rs 79,200 crore, or