Asia’s richest man, Gautam Adani, Chairman, Adani Group, has signed India’s largest-ever M&A transaction in the infrastructure and materials space.

The $10.5 billion deal signed post the Holcim divestment, has made the conglomerate India’s second-largest cement maker! The company has acquired 63.19 per cent of Ambuja Cements and its subsidiary ACC after the fierce bidding battle that saw participation from large players such as Sajjan Jindal-backed JSW Cement and Aditya Birla Group’s UltraTech Cement.

With this, the Adani family now has a combined capacity to produce approximately 70 million tonne cement per annum, second only to UltraTech Cement! This is the largest-ever acquisition done by Adani.