JSW, Adani set to battle for Holcim's India cement assets

11 May 2022 CW Team

JSW Group reportedly is planning to compete aggressively with Adani Group for Holcim AG's local cement assets, paving way for a bidding battle to emerge as the country's second-biggest player in the cement industry.

JSW Group has reportedly revealed that it would be making a $7 billion bid for Ambuja Cements and ACC, the Holcim subsidiaries. However, speculations indicate that the deal value could go much higher to up to twice that number as both JSW and Adani chase ready-made assets that will be giving the winner a big presence in the market instantly.

Holcim is believed to review bids from both Adani and JSW, but a deal would depend not just on financial but on other contractual terms with an inserted break-fee clause to get "high" compensation if the transaction fails.

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