The Adani Family has completed the previously announced acquisitions of Ambuja Cements and ACC Ltd. for a total price of $6.5 billion to become the second largest cement company in India.

The transaction, which is said to be the largest acquisition in India’s Infrastructure and Materials space, was carried out by the Adani Family, through a special purpose vehicle, Endeavour Trade and Investment Ltd (BidCo).

With the completion of the deal that involved the acquisition of Holcim’s stake in the two cement companies, Adani now owns a 63.15% stake in Ambuja Cements and 56.69% in ACC.

Ambuja Cements and ACC add a total cement production of 67.5 million tonnes per annum (MTPA) to Adani.

In addition, the two companies own a strong manufacturing and supply chain infrastructure, consisting of 14 integrated units, 16 grinding units, 79 ready-mix concrete plants and over 78,000 channel partners across India.

Gautam Adani — Adani Group Chairman said: “What makes cement an exciting business is the headroom for growth in India, which exceeds that of every other country well beyond 2050.

“Cement is a game of economics dependent on energy costs, logistics and distribution costs, and the ability to leverage a digital platform to transform production as well as gain significant supply chain efficiencies. Each one of these capabilities is a core business for us and therefore provides our cement business a set of unmatched adjacencies. It is these adjacencies that eventually drive competitive economics.

“In addition, our position as one of the largest renewable energy companies in the world will help us manufacture premium quality green cement well in line with the principles of a circular economy. All of these dimensions put us on track to become the largest and most efficient manufacturer of cement by no later than 2030.”

Ambuja Cements and ACC are expected to benefit from synergies provided by the integrated infrastructure platform of Adani, mainly in raw material, renewable power and logistics areas.

  ACC Ltd, Adani Group, Ambuja Cement, cement, Gautam Adani, Holcim, India