[lbo-talk] Holcim`s war chest for India: $1 billion

[Sujeet Bhatt]

Holcim`s war chest for India: $1 billion
Tamal Bandyopadhyay & Kausik Datta / Mumbai February 4, 2005
After ACC and Ambuja, Swiss major on expansion overdrive.

Holcim, the world’s second largest cement company, plans to invest $1 
billion to expand its footprint in India over the next 5-7 years.

This investment is in addition to the Swiss company’s investment of $800 
million in acquiring a 67 per cent stake in Ambuja Cement India Ltd 
(ACIL), the closely held investment firm that owns 13.8 per cent in ACC, 
and to scale up its holding in ACC to 50 per cent. Gujarat Ambuja Cement 
Ltd (GACL) will finally hold 33 per cent in ACIL.

Confirming Holcim’s $1 billion investment proposal, GACL Executive 
Director Anil Singhvi told Business Standard that GACL would partner 
Holcim in all future forays by Holcim in the cement sector in India. 
This “partnership” is, however, not binding on GACL.

http://www.business-standard.com/common/storypage.php?hpFlag=Y&chklogin=N&autono=179891&leftnm=lmnu1&leftindx=1&lselect=0

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