The Adani Group is in talks to acquire Heidelberg Materials’ cement operations in India, potentially valued at around $1.2 billion. The acquisition, led by Ambuja Cements, aligns with the ongoing consolidation in the industry. Adani, which entered the cement sector by acquiring Holcim’s India operations in 2022, aims to swiftly finalize the deal. Heidelberg operates in India through HeidelbergCement India and Zuari Cement and has a market cap of Rs 4,957 crore. The company has been active in India since 2006 and has increased its capacity significantly since then.
Issue of Production Capacity
The listed entity has a market cap of Rs 4,957 crore and is 69.39% owned by the parent. Heidelberg is one of the world’s largest cement producers and is present in 50 countries.
Heidelberg entered the country in 2006 with the acquisition of Mysore Cement, Cochin Cement and a JV with Indorama Cement. After 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 the Adani Group did not respond to queries.
