A subsidiary called Adani Health Ventures will commence its business operations in 'due course', says conglomerate.
India can get back to the age of controlling one-fourth of global economy like the way it used to do earlier, Adani Ports and SEZ CEO Karan Adani said on Wednesday.
This makes the Adani group one of the most indebted among India's top business groups
The CEO said the smoothness of the execution of such a transaction was a major factor in taking the decision.
Insurer owns shares aggregating Rs 7,000 crore
As per the deal, Adani Group will acquire Holcim's full stake in Ambuja Cement and ACC for CHF (Swiss franc) 6.4 billion (USD 6.38 billion)
How has Adani group charted its success over three decades? Is Ambuja Cement & ACC merger on the cards? How's India Inc making employees return to office? What is CPI-based inflation? All answers here
From Adani group's gross debt rising to EV fire incidents, here are the top headlines on Tuesday
Here are the top BS Opinion articles of the day
The last two years have been eventful for Gautam Adani, when his wealth grew from $8.9 bn to $105 bn. Last week, he clinched a deal to acquire Ambuja and ACC cements. Let's track his growth story
Shares of ACC and Ambuja Cements soared up to 4% in yesterday's trade after the Holcim Adani deal. Analysts believe the Adani Group may merge both these entities over the medium term. Find out more
Expansion plans by most larger players despite glut in markets, fuel price-driven cost pressure and resistance from market to absorb higher cost may force weaker players out
But, whether players maintain discipline or turn aggressive on pricing as new capacities come on stream will be crucial
Adani-Holcim deal: The merger of Ambuja Cement and ACC will help Adani Group rationalise a lot of fixed cost quotients at both these entities, analysts said
While there are curbs on banks for directly funding takeovers and acquisitions, banks will assess any room for funding via overseas branches and subsidiaries when exposure review is done
Speeding up capacity expansion would be top focus area, said analysts
India-Mauritius treaty allows tax exemption on such agreement, says Swiss company's CEO.
Adani group aiming at 100 mn tonnes per annum combined, from present 70 mn tonnes; both firms to invest with own cash and fresh debt; ACC-Ambuja merger on cards
Adani Group is increasing its stake in the India story
Over the last 15 months Holcim has spent 5 billion Swiss francs ($4.99 billion) on a string of companies outside the cement market as it pivots towards building products like roofing and mortars.