Adani Group has high hopes for India’s economy in the coming years and response has begun laying the groundwork for the largest infrastructure acquisition in the country’s history. Adani Group is looking to cement to become the country’s second-largest producer during India's expected housing boom. The deal will involve the acquisition of two cement companies valued as high as $10.5 billion.
Adani Group plans to take control of the two Indian listed cement companies that originated from Switzerland’s Holcim Ltd. by offering to buy stock from other shareholders in what is known as an open offer. The acquisitions will solidify Adani Group’s position in the growing urbanization of the country.
India is expected to be one of the fastest-growing economies this year With GDP expected to grow by 8.2%. Much of this can be attributed to the rebirth of the Indian economy as the impact of the Covid-19 pandemic has wavered.
Source: Wall Street Journal
