Construction Industry News
JSW Group reportedly plans to aggressively compete with Adani Group for Holcim AG's local cement assets, paving the way for a bidding war to become the country's second largest player in the cement industry.
JSW Group has reportedly revealed it would make a $7 billion bid for Ambuja Cements and ACC, Holcim's subsidiaries. However, speculation indicates that the deal's value could be much higher to twice that number as both JSW and Adani are looking for ready-made assets that will immediately give the winner a large presence in the market.
Holcim would review both Adani and JSW's bids, but a deal would depend not only on financial but also other contractual terms with a break-fee clause inserted to get a "high" compensation if the transaction fails.
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