NEW DELHI: JSW Group will make a USD 7 billion proposal for Ambuja Cement and ACC Ltd. According to the FT report, JSW Group is set to make a USD 7 billion proposal for Holcim AG's Indian subsidiaries Ambuja Cements Ltd and ACC Ltd.
JSW Group Chairman Sajjan Jindal said that the company will provide USD4.5 billion in its own equity and USD2.5 billion from unknown private equity partners for the proposal.It would also purchase a 63 percent share in Ambuja Cements.
Last month, it was reported that Gautam Adani's conglomerate Adani Group was in talks to buy Ambuja from Holcim, which has been striving to diversify away from its main business of cement and aggregates in order to focus more on building technologies and sustainability.
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