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JSW Group makes $7-billion bid for Holcim's India businesses: Report
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JSW Group makes $7-billion bid for Holcim's India businesses: Report
May 9, 2022 11:09 PM

The JSW group has made a $7 billion bid for Holcim's India businesses, the Financial Times reported. Holderind Investments (Holcim) has two listed arms, Ambuja Cement and ACC, in India -- a market it entered 17 years ago.

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A $7-billion bid is worth Rs 54,250 crore at Monday's record low of 77.5 against the greenback.

The move by Holcim Group -- the world’s largest cement maker -- appears to be part of its global strategy to focus on core markets and shift towards a greener future.

ALSO READ: Holcim Group may exit India soon

Holcim is a Switzerland-based building materials conglomerate. It holds a 63.2 percent stake in Ambuja and 4.5 percent in ACC. Ambuja also has a 50.1 percent stake in ACC.

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