{"id":32624,"date":"2024-10-07T11:34:00","date_gmt":"2024-10-07T10:34:00","guid":{"rendered":"https:\/\/newstimers.com\/index.php\/2024\/10\/07\/adanis-eyes-on-buying-germanys-cement-company-heidelberg\/"},"modified":"2024-10-07T11:34:00","modified_gmt":"2024-10-07T10:34:00","slug":"adanis-eyes-on-buying-germanys-cement-company-heidelberg","status":"publish","type":"post","link":"https:\/\/newstimers.com\/index.php\/2024\/10\/07\/adanis-eyes-on-buying-germanys-cement-company-heidelberg\/","title":{"rendered":"Adani’s eyes on buying Germany’s cement company Heidelberg"},"content":{"rendered":"


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Adani is eyeing Germany’s Heidelberg Materials. The group has started talks to acquire Germany’s Indian Cement Company. The proposed acquisition of Heidelberg’s Indian unit will be led by Adani Group company Ambuja Cements and could be valued at around $1.2 billion (Rs 10,000 crore), a person familiar with the matter said.<\/p>\n<\/div>\n

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India’s top cement manufacturing company UltraTech is also acquiring companies to maintain its position. Adani Group, India’s second largest cement maker, entered the sector in 2022 by acquiring the Indian unit of Holcim.<\/p>\n<\/div>\n

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Sources have said that Adani also wants to move fast to complete this deal. Ambuja Cements had cash and cash equivalents of Rs 18,299 crore as on June 30, 2024. However, the Indian group may exit the deal if it becomes a full-fledged sale process involving other contenders.<\/p>\n<\/div>\n

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Heidelberg one of the world’s largest cement producers<\/h2>\n

The German company has its presence in India through listed Heidelberg Cement India and unlisted Zuari Cement. The market cap of the listed unit is Rs 4,957 crore and the parent company holds 69.39% stake in it. Heidelberg is one of the world’s largest cement producers and is present in 50 countries.<\/p>\n<\/div>\n

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Sources said a senior official from the Heidelberg headquarters is leading the talks with the Indian group. However, both the groups will have to agree on the potential issue of production capacity, while Heidelberg claims its capacity to be around 14 million tonnes (as per the website), this could be lower and hence impact the valuation.<\/p>\n<\/div>\n

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Heidelberg sells cement under these brand names<\/h2>\n

Heidelberg entered the country in 2006 with the acquisition of Mysore Cement, a joint venture with Cochin Cement and Indorama Cement. Following the acquisition of Italcementi in 2016, the group doubled its presence in India to a claimed 14 million tonnes, according to its website. Heidelberg and Adani Group did not respond to queries.<\/p>\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Adani is eyeing Germany’s Heidelberg Materials. The group has started talks to acquire Germany’s Indian Cement Company. The proposed acquisition of Heidelberg’s Indian unit will be led by Adani Group company Ambuja Cements and could be valued at around $1.2 billion (Rs 10,000 crore), a person familiar with the matter said. India’s top cement manufacturing […]<\/p>\n","protected":false},"author":1,"featured_media":32625,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.livehindustan.com\/lh-img\/smart\/img\/2024\/10\/07\/1200x900\/adani_group_stocks__1681464448_1728264798346.jpg","fifu_image_alt":"","footnotes":""},"categories":[43785],"tags":[],"class_list":{"0":"post-32624","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\nAdani's eyes on buying Germany's cement company Heidelberg - News Timers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newstimers.com\/index.php\/2024\/10\/07\/adanis-eyes-on-buying-germanys-cement-company-heidelberg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adani's eyes on buying Germany's cement company Heidelberg - News Timers\" \/>\n<meta property=\"og:description\" content=\"Adani is eyeing Germany’s Heidelberg Materials. 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