Adani group to refinance ACC
Cement

Adani group to refinance ACC

The Adani group is in talks with several foreign banks about refinancing $3.5 billion in bridge loans taken out this year for the acquisitions of Ambuja Cement and ACC. The loans were taken out by the Mauritius-based promoter entity Endeavour Trade and Investment, a special purpose vehicle that purchased Ambuja Cement's stake from Swiss cement giant Holcim in an all-cash $6.5 billion transaction. The refinanced loans' terms will be extended to five years. Adani currently controls 63.15 per cent of Ambuja Cement and 56.69 per cent of ACC (of which a 50.05 per cent stake is held through Ambuja Cement).

Soon after taking over the companies in September, the promoters agreed to invest an additional Rs 200 billion in order to double the company's capacity. The combined installed production capacity of Ambuja Cement and ACC is 67.5 million tonne per year.

According to bankers, the earlier Holcim stake acquisition transaction was financed by $4.5 billion in loans from 14 international banks, demonstrating foreign banks' confidence in Indian companies.

Also read:
Railways has earned Rs 1059.05 billion from freight loading till Nov'22
REC and PFC signs MoU for the fiscal year 2022-23

The Adani group is in talks with several foreign banks about refinancing $3.5 billion in bridge loans taken out this year for the acquisitions of Ambuja Cement and ACC. The loans were taken out by the Mauritius-based promoter entity Endeavour Trade and Investment, a special purpose vehicle that purchased Ambuja Cement's stake from Swiss cement giant Holcim in an all-cash $6.5 billion transaction. The refinanced loans' terms will be extended to five years. Adani currently controls 63.15 per cent of Ambuja Cement and 56.69 per cent of ACC (of which a 50.05 per cent stake is held through Ambuja Cement). Soon after taking over the companies in September, the promoters agreed to invest an additional Rs 200 billion in order to double the company's capacity. The combined installed production capacity of Ambuja Cement and ACC is 67.5 million tonne per year. According to bankers, the earlier Holcim stake acquisition transaction was financed by $4.5 billion in loans from 14 international banks, demonstrating foreign banks' confidence in Indian companies. Also read: Railways has earned Rs 1059.05 billion from freight loading till Nov'22 REC and PFC signs MoU for the fiscal year 2022-23

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?