Ambuja Cement sells stake to Holcim Ltd.

COMPANY

Ambuja Cements

COMPANY TYPE

Listed

INDUSTRY

Manufacturing

SECTOR

Cement & Refractories (Cement)

CITY (TARGET)

Mumbai

COUNTRY (TARGET)

India

 

ACQUIRER

Holcim

ACQUIRER COMPANY TYPE

Listed

INDUSTRY (ACQUIRER)

Manufacturing

 

CITY (ACQUIRER)

Rapperswil Jona

COUNTRY (ACQUIRER)

Switzerland

 

 

Gujarat Ambuja Cements Ltd, India’s fourth-biggest cement maker by capacity, has sold part of its stake in Ambuja Cement India Ltd to Holcim Ltd for Rs527 crore. The company sold a third of its 33% stake in Ambuja Cement India, the holding company through which Holcim and Gujarat Ambuja own a share in ACC Ltd, India’s biggest cement maker

Gujarat Ambuja, part-owned by Holcim, the world’s second-largest cement producer, had said on 2 February that it planned to spend Rs3,350 crore to expand capacity. Gujarat Ambuja made a profit of Rs241 crore from the sale of the 9.5 million shares to Holcim, according to the statement. Increased spending on roads, dams and bridges in the country is boosting demand for cement, spurring Holcim to invest $2 billion (Rs8,800 crore) in India.

INR 940.43 Cr for 1.97% stake
Investment via Holderind Investments Limited 

On Nov 15, 2016, purchase of 39,100,000 shares at Rs.240.52 per share

Post-deal Acquirers SHP:
Holderind Investments Limited 
? 63.11% stake (1,253,156,361 shares)

Valuation Details:
Equity Valuation 
? INR 47,759.34 Cr
Total Debt ? INR 35 Cr (CY15)
Cash and bank balance ? INR 2853.32 Cr
EV ? INR 44,941.02 Cr

 

Source: http://www.gujaratambuja.com