Looking at 10 acquisition targets, Holcim CEO says after Adani deal

Holcim is examining 10 acquisitions with the ability to buy large and small companies, Chief Executive Jan Jenisch said on Monday, after the Swiss cementmaker agreed to sell its Indian operations to Adani Group in a $10.5 billion deal, Reuters reported.

"We are growing at quite a fast pace and the plan is, the proceeds from the divestment, we will continue to accelerate our strategy 2025 and acquire new companies," Jenisch told reporters.

"At the moment we have around 10 transactions being checked by us, being negotiated by us. They are small transactions, they are bigger transactions," he added. "We are ready for another Firestone," he said, referring to the $3.4 billion acquisition Holcim made last year.


Adani Group on Sunday announced that it had acquired a controlling stake in Holcim AG's cement businesses in India, effectively becoming the second-biggest cement producer in India.




The value for the Holcim stake and open offer consideration for Ambuja Cements and ACC is around US$ 10.5 billion, which makes this the largest ever acquisition by Adani, and India’s largest-ever M&A transaction in the infrastructure and materials space, the company said in a press release.

"Our move into the cement business is yet another validation of our belief in our nation's growth story," said Adani, Chairman of the Adani Group.

Adani has pipped Sajjan Jindal-led JSW Cement, the other serious contender for the cement assets.