Ambuja's proposal to buy 24% in Holcim approved
The Cabinet Committee on Economic Affairs on Wednesday approved Ambuja Cements' proposed acquisition of a 24% stake in its holding company Holcim India from Holcim's investment arm, and a subsequent reverse merger. This will generate an outflow of ₹3,500 crore, a release stated. The transactions will help in LafargeHolcim's expansion and creating employment prospects, the release added. 