In a big move by Gautam Adani, the multinational conglomerate Adani group is in talks to acquire Germany's Heidelberg Materials' Indian cement operation, according to the Economic Times report. The estimated value of the deal is $1.2 billion (approx Rs 100757700000).
The Adani Group is continuing to expand in the cement industry, which includes this potential acquisition. The business joined the market in 2022 when it bought Holcim's share of Ambuja Cement.
Ambuja Cements, Sanghi Industries, and Hyderabad-based Penna Cement Industries are just a few of the companies the Adani Group has acquired in the cement industry to take on the industry leader, UltraTech Cement of the Aditya Birla Group.
According to sources in June, Adani was also reportedly in talks to buy Vadraj Cement, which is owned by ABG Shipyard, Saurashtra Cement, which is located in Gujarat, and the cement division of Jaiprakash Associates.
