ZURICH: Swiss building-materials firm Holcim Ltd agreed to sell its Indian operations to local billionaire Gautam Adani (pic), currently the richest person in Asia, another step in chief executive officer Jan Jenisch’s pivot away from traditional cement.
The company will sell its 63% stake in Mumbai-listed Ambuja Cements Ltd to Adani Group, it said in a statement. Adani said it plans to spend about US$10.5bil (RM46bil) on the stake purchases and open offer consideration for Ambuja and related entities.
Already a subscriber? Log in
Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.
Cancel anytime. Ad-free. Unlimited access with perks.
