Indian courts approve Ambuja-Holcim amalgamation

The Gujarat and Delhi High Courts in India have approved the merger of Ambuja Cements with Holcim India, along with a proposed reduction of capital. Ambuja will buy 24% of the stake held by its Swiss parent Holcim in group company ACC for INR 35 billion (€422 million/US$582 million) and issue shares for another 26%, giving Holcim a 61.39% stake in Ambuja (previously just over 50%). The restructuring, intended to consolidate Holcim's Indian holdings, will be completed in or before June 2014.

Quarry Products / March 31, 2014

The Gujarat and Delhi High Courts in India have approved the merger of 4380 Ambuja Cements with 680 Holcim India, along with a proposed reduction of capital.

Ambuja will buy 24% of the stake held by its Swiss parent Holcim in group company 4577 ACC for INR 35 billion (€422 million/US$582 million) and issue shares for another 26%, giving Holcim a 61.39% stake in Ambuja (previously just over 50%).

The restructuring, intended to consolidate Holcim's Indian holdings, will be completed in or before June 2014.

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Ambuja Cements

ACC