The JSW steel group has offered $ 7 billion to acquire Ambuja Cements and ACC India (Subsidiary Company).
As per the statement of Sajjan Jindal, JSW would offer $4.5 billion in its equity and $2.5 billion from undisclosed private equity partners for Ambuja Cement and ACC. American private equity major Apollo has offered $1 billion to JSW for the acquisition, media reported.
The acquisition of JSW’s shares increased the Indian cement market from above 3 per cent to 6 per cent. Ambuja and ACC have a capacity of 64 million tonnes per annum.
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JSW group will not be able to win the race as the Adani group has made an offer of more than $10 billion. The offer includes the open offers for the two listed entities in India. The Aditya Birla group is also in the race. Still, bankers said it would have to sell several units in Western India to get approval from the Competition Commission of India, media reported.
Before 15 May 2022, Holcim has plans to announce the winner’s name and the whole transaction, which also includes the open offer, which will be completed by March 2023.
Around the globe, rate has been raised after the US Fed hike will impact the offers as interest rates offered by private equity funds for the deal are as high as 13 per cent.
The acquisition of JSW’s shares increased the Indian cement market from above 3 per cent to 6 per cent. Ambuja and ACC have a capacity of 64 million tonnes per annum.
JSW group will not be able to win the race as the Adani group has made an offer of more than $10 billion. The offer includes the open offers for the two listed entities in India. The Aditya Birla group is also in the race. Still, bankers said it would have to sell several units in Western India to get approval from the Competition Commission of India, media reported.
Before 15 May 2022, Holcim has plans to announce the winner’s name and the whole transaction, which also includes the open offer, which will be completed by March 2023.
Around the globe, rate has been raised after the US Fed hike will impact the offers as interest rates offered by private equity funds for the deal are as high as 13 per cent.
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