In terms of production capacity, the country’s largest company Ultratech Cement is talking to the German firm Hydelberg on the acquisition of its Indian unit. Moneycontrol on Monday reported the sources associated with the case as saying. The report said that the officials of the UltraTech’s original company Aditya Birla Group met the management of Hydelberg and interacted on the acquisition of Hydelberg Cement India. But the price of this deal has not been ascertained.
Germany’s original company holds 69 per cent stake in the Indian unit and its evaluation is around Rs 33.8 billion based on Friday’s closed price. It is not immediately clear whether Adani’s conversation is broken. Moneycontrol did not give any information on the current situation of Adani’s conversation. Apart from both the veterans, Hydelberg has also caught the attention of JSW Cement, who is going to bring IPOs. The media gave this news last year. Hydelberg said in response to an email that she does not comment on the speculations of the market. No immediate comments in this regard could not be found from UltraTech, Hydelberg Cement India and Adani Group.
Adani Group entered the region in the year 2022 by purchasing cement assets of Swiss firm Holsim. There is a conflict between UltraTech and Adani Group to increase capacity expansion and market share. Analysts say the demand for cement is expected to remain properly. In July, Hydelberg CEO Von Ashton said that the group’s market situation in India is not yet good and is considering all options. In 2006, with several indigenous acquisitions, the company entering India has four plants and has a total capacity of 1.26 million tonnes. After this news, Hydelurg Cement India shares jumped 6 percent. This week the company will present quarterly results. Ultratech has presented better quarterly results last week.