Holcim mulls exiting India after selling Ambuja Cement, ACC units
Holcim, the world’s largest cement maker, may exit India, putting its twin listed arms Ambuja Cements Ltd and ACC Ltd up for sale, as per a report, citing multiple people aware of the decision.
The Swiss conglomerate is believed to have held early-stage negotiations with JSW and Adani Group, among others, to explore their interest levels, as per the report. Holcim is trying to diversify away from its core business of cement and aggregates to focus more on building technology as it increases its emphasis on sustainability. Earlier, a report said Holcim is considering a potential sale of businesses in India including Ambuja Cements, citing people familiar with the matter.
Deliberations are in the early stages and may not lead to a transaction, the report said, citing people familiar with the matter. Holcim declined to comment, while Ambuja and ACC did not immediately respond to a request for comment.