LafargeHolcim bought a 4 2 additional stake in ACC for Rs 1 209 crore and around 2 in Ambuja Cements for Rs 940 crore stock exchange data showed on Tuesday.
The cement maker which was created last year with the merger of Swiss firm Holcim and French peer Lafarge bought the shares in bulk deals on the secondary market A small chunk of ACC shares was acquired from a fund under Nomura.
LafargeHolcim held a 61 62 stake in Ambuja Cements as on 30 September which increases to 63 62.
It held a 0 29 stake directly in ACC which becomes 4 5 Ambuja Cements itself owns a 50 05 stake in ACC and so LafargeHolcims direct and indirect holding in ACC rises from around 31 1 to 36 3.
This comes four months after LafargeHolcim struck a deal to divest assets previously under Lafarge India LafargeHolcim had agreed to sell Lafarge India Pvt Ltd to Nirma Ltd for 1 4 billion Rs 9 400 crore including debt in a deal to complete the India leg of the global merger of Lafarge and Holcim.
New grinding cement unit of ambuja cement holcim in new grinding cement unit of ambuja cement holcim in Ambuja Cements Ltd a part of Holcim is an India based cement manufacturing company Holcim is a supplier of cement The Company has five integrated cement manufacturing plants and eight cement grinding units Its cement capacity is new.
Lafarge India operates three cement plants and two grinding stations with a total capacity of around 11 million tonnes per annum It also makes ready mix concrete After this divestment LafargeHolcim will continue to operate in India through ACC and Ambuja Cements.
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In August last year Lafarge India struck a deal with Birla Corp to sell its cement plants at Jojobera in Jharkhand and Sonadih in Chhattisgarh for an enterprise value of Rs 5 000 crore The two plants have a total capacity of 5 1 million tonnes The deal however fell through as it was contingent on transfer of mining rights which wasnt permitted under India law at the time.
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India The board of ACC has approved plans to build a new cement plant at Ametha District Katnl in Madhya Pradesh The unit will have a clinker production capacity of 3Mtyr and a cement production capacity of 1Mtyr The subsidiary of Switzerlands LafargeHolcim plans to expand a 1 6Mtyr grinding plant at Tikaria Uttar Pradesh and a 2 2Mtyr grinding plant also in Uttar Pradesh.
India Ambuja Cements announced on 21 November 2013 that shareholders had approved a proposal by Swiss parent firm Holcim to rejig its Indian cement units winning 377m of the 550m votes placed 68 5 173m votes were placed against the merger The resolution for the scheme of amalgamation between Holcim India and Ambuja Cements was passed through postal ballots with the majority of.
HOLCIM CEMENT GUJARAT AMBUJA CEMENTS GACL HOLCIM CEMENT signed an agreement of 14 8 take over with the GUJARAT AMBUJA CEMENTS GACL With new products skilled personnel superb management and a outstanding market strategy gives this tie up good edge over the other competitors HOLCIM CEMENT COMPANY is among the leading cement manufacturing and.
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