Cement Maker Holcim May Exit India, Puts Up Ambuja Cement, ACC for Sale

The world's largest cement-maker Holcim has put up for sale Ambjua Cement Ltd and ACC Ltd, its two listed companies in India and may exit the country, say media reports. Switzerland-based Holcim's unit Holderind Investments Ltd owns a 63.19% stake in Amubja Cement. Holderind Investments also holds a 4.48% stake in ACC, while Ambuja Cement holds 50.05% in the cement maker.

Holcim has been selling off non-core assets to reduce debt and diversify through acquisitions. It divested its Brazilian unit for $1 billion in September and is also planning to sell its business in Zimbabwe, the report says.

 Last year in July, LafargeHolcim, the holding company of ACC and Ambuja Cements, was rebranded as Holcim group. In 2015, Holcim merged with its French rival Lafarge to create LafargeHolcim. However, LafargeHolcim was forced to go through several restructurings to comply with anti-trust regulators worldwide by divesting assets across Europe and Asia, including India.