Cabinet approves proposal of M/s. Ambuja Cements Limited for acquisition of 24% shares in its holding company-Holcim (India) Private Limited
No: --- Dated: Jul, 20 2016
Cabinet approves proposal of M/s. Ambuja Cements Limited for acquisition of 24% shares in its holding company-Holcim (India) Private Limited
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the proposal for M/s. Ambuja Cements Limited for acquisition of 24% shares in its holding company-Holcim (India) Private Limited from M/s. Holderind Investment Limited and subsequent reverse merger through a share swap. This would entail outflow of Rs.3500 crore.
These transactions would enable Lafarge Holcim group to create a linear corporate structure (with Ambuja and ACC becoming parent and subsidiary) with a view to harvest significant synergies from India operations. This will further strengthen all India footprints, debt free balance sheet and cash flow generation, bringing in huge prospects for further expansion and creation of employment opportunities.
These transactions would enable Lafarge Holcim group to create a linear corporate structure (with Ambuja and ACC becoming parent and subsidiary) with a view to harvest significant synergies from India operations. This will further strengthen all India footprints, debt free balance sheet and cash flow generation, bringing in huge prospects for further expansion and creation of employment opportunities.
Courtesy – Press Information Bureau, Government of India