Adani Group in Talks to Buy Indian Cement Unit of Heidelberg Materials, the Economic Times Says, Citing Sources

Dow Jones2024-10-07

--India's Adani Group has entered into talks to acquire the Indian cement operations of Germany's Heidelberg Materials in a deal that could be worth $1.2 billion, Indian newspaper the Economic Times reports, citing people with knowledge of the deal.

--Adani Group company Ambuja Cements wants to complete the transaction fast and may opt out of the deal if it becomes a full sales process involving other bidders, according to the Economic Times reports.

--Heidelberg declined to comment and Adani Group didn't respond to queries.

Full story: https://shorturl.at/aKcQy

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

October 07, 2024 03:32 ET (07:32 GMT)

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