LafargeHolcim, the Swiss multinational cement giant has increased its stake in Ambuja Cement and ACC by 1.49 percent and 4.19 percent, respectively.
According to a BSE filing by Ambuja Cements and ACC, “LafargeHolcim announces that its subsidiary Holderind Investments has increased its shareholding in Ambuja Cements Ltd by 39,100,000 shares to 1,253,156,361 shares (63.11 percent of total Ambuja shares) and in ACC Ltd (ACC), a subsidiary of Ambuja, by 7,870,000 shares to 8,411,000 shares (4.48 percent of total ACC shares).”
It further said that “the purchase price will be paid in INR. The impact on LafargeHolcim’s net debt is Swiss Franc CHF 325 million (Rs 2,202 crore). This investment was not included in the Group’s net debt objective of around CHF 13 billion at the end of 2016 which should be adjusted accordingly.”
