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World’s 5th richest billionaire Gautam Adani has edged out Birla and Jindal in a triple threat battle to take hold of Holcim’s Indian assets. With this masterstroke Adani has become the second largest cement maker in the country after UltraTech from the house of Aditya Birla. Asia’s richest industrialist cinched the whole deal for $10.5 billion.
Our belief in the India story is unshakeable. Combining @Holcim‘s cement assets in India with our green energy and logistics will make us the world’s greenest cement company. Jan Jenisch has been terrific to work with. We welcome the @AmbujaCementACL & @ACCLimited teams. pic.twitter.com/iThyLp92iV
— Gautam Adani (@gautam_adani) May 15, 2022
This deal will merge a major share of Ambuja cements and ACC within the larger Adani conglomerate. Adani group now holds 63.11 percent of Ambuja Cement which comprises a 50.05 percent interest and 4.48 percent stake in ACC.
Learn more: https://t.co/P4Q8LPTn5u pic.twitter.com/BpmzIoBesg
— Holcim (@Holcim) May 15, 2022
Now while every media house is telling ya they are the first one to break so and so part of the deal first, what probably is missing from the buzz is how this is forging the duopoly of Adani and Ambani. Both Adani and Ambani have been trailing each other for quite some time. However it’s quite remarkable how Adani toppled the former richest Indian and Asian.
Adani bills this move makes ‘em the greenest cement company in the world! The Adani group has been invested in green tech for a while now. Adani himself believes that this will redeem India in the coming decades. His belief that India will be a $30 trillion economy by 2050 is pegged on Green energy! Adani port is acquiring 100 percent stake in Ocean Sparkle for INR 1530 crore. The company is the largest marine service company in the country. He is very keen on building a green energy folio that the world vie for. Taking on Aramco, are you Adani? G-d only knows how this utopian vision of greentech converges with his myopic coal mining!
See Also: India’s Richest Billionaire Gautam Adani Believes India Will Reach $30 Trillion Economy By 2050
Meanwhile, the aggressive expansion of the Adanidom must raise serious concern among other biz houses in the nation. The stage was already set for the biggest rivalry (with Ambanis of course) but now that he has his hands on all the pies, the remnant will need to strategize and push back and break the duopoly!
Meanwhile
With #AdaniGroup buying @Holcim‘s stake in #ACC and #Ambuja, it now becomes India’s 2nd largest #cement manufacturer. Here’s how it stacks up👇@AmbujaCementACL @ACCLimited #Adani #StocksToWatch #StockMarket pic.twitter.com/LBDHjP7jri
— ET NOW (@ETNOWlive) May 16, 2022
See Also: Oil Supremacy: Saudi Aramco Topples Apple To Become World’s Most Valuable Company
Cover Image: Twitter/Gautam Adani
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