InvestorQ : Why is Holcim planning to sell out of Ambuja Cements?
vaishnavi mhatre made post

Why is Holcim planning to sell out of Ambuja Cements?

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vidhya Laxmi answered.
1 month ago
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The world largest cement manufacturer (Holcim) is considering hiving off its businesses in India, including the sale of Ambuja Cements. For now, Holcim is just about getting out of its 63.1% stake in Ambuja which has been valued at Rs.$9.6 billion. Shares of Ambuja Cements have gained more than 20% this month. Globally, Holcim has been trying to hive off its non-core assets with a view to reducing debt. It had recently sold units in Brazil and Zimbabwe.

Ambuja has a total cement manufacturing capacity of 31 million metric tons (MT). It currently boasts of six integrated manufacturing plants and eight cement grinding units in India. Even through ACC is public traded, it is majority held by Ambuja Cements.

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