Holcim sells its India business for CHF 6.4 billion

The Swiss group Holcim is selling its business in India. The company already withdrew from Brazil last year.

The building materials producer Holcim is selling its business in India. As the company, which has its headquarters in Zug, announced on Sunday, the Adani Group is buying the full stake in Ambuja Cement and ACC. Holcim will receive CHF 6.4 billion for this, and a corresponding agreement had been signed.

Holcim plans to sell its business in India to the Adani Group for CHF 6.4 billion.      Photo: Luzerner Zeitung

Ambuja Cement and ACC have 31 cement plants and 78 ready-mixed concrete plants with 10,700 employees in India. The sale is still subject to approval by the Indian authorities, but is "expected to be completed in the second half of 2022," says Holcim. The Adani Group is "a leading, highly respected company in India, with a portfolio of world-class businesses ranging from infrastructure to energy," writes Holcim about the buyer.

A possible sale of the Indian businesses has been speculated for some time. Just last September, Holcim sold its business in Brazil. At that time, the company received around a billion dollars.  According to the press release, Holcim is focusing "on becoming the world's leading provider of innovative and sustainable construction solutions."