Construction Industry News
The open bids for Ambuja Cements and ACC Cement shareholders will begin on July 6 and close on July 19. With an investment of Rs 31,139 crore, these two open offerings could be the largest open offering ever in India.
The open offer was made by a Mauritius-based company owned by the Adani Group after acquiring a 63% stake in Ambuja Cement and 4.5% in ACC Cement from Holcim for $6.5 billion. Ambuja Cement owns a 50% interest in ACC. The entire acquisition will cost the Adani around Rs 81,000 crore.
Adani's open offer would benefit Unilever's open offer in 2013.
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