Thread by @BeatTheStreet10

Adani To Acquire Holcim’s Stake In Ambuja Cements And ACC Limited

adani.com/Newsroom/Media…

Finally its official, Adani bought this stake via offshore SPV which belongs to Adani Promoters (not related to Adani Enterprises)

#adani #holcim
#ambuja #acc

https://twitter.com/BeatTheStreet10/status/1517519302827552768

Adani ACC Ambuja deal valued at

Ambuja 385 per share vs CMP 358
ACC 2300 per share vs CMP 2100

#adani #acc #ambuja #Holcim

At $10.5 bn
largest ever acquisition by Adani, and India’s largest ever M&A transaction in the infrastructure and materials space.

"Buy on Rumors Sell on News"

After few days of upside the stock will correct as the valuation have been at par with market expectations and aleeady priced in with steep rally in both co

Example of correction post big announcement
Zee-Sony
HDFC Merger

Stake bought through Endeavour Trade & Investment (Adani Group Promoter Entity, not Adani Ent)

This may negatively impact Adani Ent

Previous M&A in Cement sector
ACC-Ambuja deal valued at approx $190 per Tom in terms of EV/Ton

Deal size is 4x of Ultratech - JP Cement

How valuations of Cement Co stacked up based on EV/Ton

@NiravParikh8

Adani bought ACC & Ambuja at EV of $190 per Ton

The most important thing to watchout is CCI approval

thehindubusinessline.com/companies/will…

Biggest M&A deals in India..!

In the light of #Vodafone and Cairn Energy cases, Holcim has concluded that there would be no capital gains levied on the gains made. However, the CBDT is yet to give a confirmation on the matter. There is an existing DTAA signed b/w #India & #Mauritius.

m.economictimes.com/industry/indl-…