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.
The Gujarat and Delhi High Courts in India have approved the merger of
Ambuja will buy 24% of the stake held by its Swiss parent Holcim in group company
The restructuring, intended to consolidate Holcim's Indian holdings, will be completed in or before June 2014.