Holcim increases stake in Ambuja Cements to 46% for $ 780 mln

New Delhi, Dec 4 (UNI) Swiss Cement major Holcim today said it has increased stake in Ambuja cements Ltd (ACL) by 13 per cent to 46 per cent for 780 million dollars.

Holcim, world's second-biggest cement maker, bought India's fourth-biggest cement producer ACL shares from founders, the related mandatory offer to the other shareholders and open market purchases, company statement said.

The transaction is entirely financed through internal resources and existing credit facilities, it added.

UNI