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The Adani Group won the race to acquire 63.19 per cent stake in Swiss cement major Holcim Ltd's India operations, Ambuja Cements Ltd and ACC, in a $10.5 billion deal.
Adani group has become the second-biggest player in the country after UltraTech Cement, which has a capacity of 120 million tonnes per year.
Holcim expects to receive $6.4 billion of cash proceeds from the sale
Adani seals $10.5 bn deal for Holcim's cements business in India
Asia's richest man and Indian billionaire Gautam Adani's group has clinched a deal to acquire a controlling stake in Swiss cement major Holcim's businesses in India for $10.5 billion, thus marking its entry into the cement sector, said media reports.