Adani Group in talks to buy Heidelberg's Indian cement operations, ET reports
Monday, October 7th 2024, 2:41:18 am
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BENGALURU (Reuters) -The Adani Group is in talks to buy the Indian cement operations of Germany's Heidelberg Materials in a deal that could be worth about $1.2 billion, the Economic Times reported on Monday, citing people familiar with the matter. Adani Group, led by billionaire Gautam Adani, entered India's cement sector in 2022 by buying Holcim's local units and has made a string of acquisitions since then as it jostles with top cement producer UltraTech Cement for market share. India's cement industry has seen increased deal-making since the Adani Group's foray, and as government spending has boosted demand from the housing and infrastructure sectors.
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