![Adani in $10.5bn deal for Holcim India cement business](https://www.berlinertageblatt.de/media/shared/articles/ac/fe/82/Adani-in--10-5bn-deal-for-Holcim-In-522558.jpg)
-
Multiple people shot along highway in US state of Kentucky
-
'Super proud' Sabalenka downs Pegula to win US Open thriller
-
In Papua New Guinea, Pope holds mass 'at the edge of the world'
-
Hewett stays positive for wheelchair tennis despite agonising defeat
-
Three things on US Open champion Aryna Sabalenka
-
Sabalenka downs Pegula to win US Open thriller
-
USA men land Paralympic basketball three-peat, Jiang takes 7th swim gold
-
USA slump to first home defeat against Canada in 67 years
-
Argentina hand Australia record 67-27 loss in Rugby Championship
-
England impress on Carsley bow, Germany, Dutch hit five
-
AFP photographer wins top prize for Gaza coverage
-
No Love for Packers for three weeks after ligament sprain: reports
-
Pedro Almodovar: chronicler of modern Spain crowned in Venice
-
Almodovar wins top Venice prize for end-of-life film
-
Trump sounds dark tone at rally, Harris 'ready' for debate
-
Wirtz and Musiala dazzle to kick-start new Germany era
-
Chinese teenager takes 7th gold of Paris Paralympics
-
England interim boss Carsley 'respects' divided opinions over anthem
-
Neuville moves to the front in the Acropolis Rally
-
Garfield, Pugh charm Toronto in new romance 'We Live in Time'
-
21 boys confirmed dead in Kenya school inferno
-
Over 100,000 protest in France against new prime minister
-
Golden 30 minutes takes China to swimming Paralympics swimming domination
-
Green leads Australia to T20 series sweep of Scotland
-
Nigeria, Cameroon win afer chaotic AFCON build-ups
-
Nicole Kidman: A-lister, cinematic chameleon, wins in Venice
-
'I had to prove myself', says Kolisi after win against All Blacks
-
Almodovar wins top prize at Venice film festival
-
Grealish savours England redemption after 'worst summer'
-
Carsley makes flying start as England interim boss in win over Ireland
-
Springboks close on Rugby Championship with storming win over All Blacks
-
Sri Lanka's De Silva and Kamindu Mendis defy England in third Test
-
Farrell's Racing lose on opening day of Top 14
-
Ireland and UK to 'reset' relations as Starmer visits Dublin
-
Dunbar takes second Vuelta stage as Roglic closes in on victory
-
Fritz eyes US Open glory to end 21 years of American hurt
-
Thousands protest in France against new prime minister
-
Death toll from Kenya school blaze rises to 21
-
Brazil's right rallies for 'freedom' after X suspended
-
Trump to hold rally in swing state, Harris preps for debate
-
Stone at the double as Sri Lanka collapse against England in third Test
-
French tennis player takes legal action over online abuse
-
Italy backs Kyiv's 'legitimate defence' as Zelensky presses allies
-
The Body Shop rescued from administration after deal
-
Martin roars to victory in San Marino sprint, extends MotoGP lead
-
Smoke and screams: The horror of Kenya's school dorm inferno
-
MotoGP leader Martin roars to victory in San Marino sprint
-
Ireland and UK to 'reset' relations as Starmer begins Dublin visit
-
Ma Lin turns brutal encounter with bear into glorious Paralympic career
-
Flintoff appointed England Lions head coach
![Adani in $10.5bn deal for Holcim India cement business](https://www.berlinertageblatt.de/media/shared/articles/ac/fe/82/Adani-in--10-5bn-deal-for-Holcim-In-522558.jpg)
Adani in $10.5bn deal for Holcim India cement business
Indian billionaire Gautam Adani struck a $10.5 billion deal to buy Swiss cement giant Holcim's local business, the companies said, betting on a construction boom predicted in coming decades.
In his biggest acquisition to date, the deal will give coal-to-ports magnate Adani -- who vies with fellow Indian Mukesh Ambani for the title of Asia's richest person -- a controlling stake in India's second-largest cement manufacturer.
"Our move into the cement business is yet another validation of our belief in our nation's growth story," Adani, 59, said in a statement late Sunday.
"Not only is India expected to remain one of the world's largest demand-driven economies for several decades, India also continues to be the world's second largest cement market," he added.
The deal marks Holcim's exit from the Indian market after 17 years and is a part of a global restructuring strategy after the Swiss cement giant's 2015 merger with France's Lafarge.
Once approved by regulators and shareholders, the firm will acquire Holcim's stakes in local producers Ambuja Cements and ACC.
The acquisitions will make Adani the country's second-biggest cement maker with a capacity of 70 million tonnes per year.
India, already home to 1.4 billion people, is projected by the United Nations to become the planet's most populous nation by the middle of the decade.
The International Energy Agency said in a report last year that an estimated 270 million people will be added to India's urban population by 2040 -- the equivalent of adding a new city the size of Los Angeles each year.
This will also likely increase emissions in the world's third-biggest polluter, since the manufacture of cement produces carbon dioxide.
Shares in Ambuja Cements were up 3.80 percent, while shares in ACC Ltd rose six percent in Mumbai following the announcement.
L.Janezki--BTB