Latham & Watkins has advised Adani Group (Adani) on its US$10.5 billion acquisition of Holcim Ltd’s stake in Ambuja Cements Ltd and ACC Ltd. – two of India’s leading cement companies. The transaction represents the largest ever acquisition by Adani, and India’s largest ever M&A transaction in the infrastructure and materials sector.
Holcim, through its subsidiaries, holds 63.19% in Ambuja Cements and 54.53% in ACC (of which 50.05% is held through Ambuja Cements). Upon completion of the acquisition, Adani will become India’s second largest cement manufacturer.
The Latham team was led by London partner Sam Newhouse and Singapore partner Rajiv Gupta, with London associate Adam Czernikiewicz. Advice was also provided on tax matters by London partner Karl Mah, with associate Abi Jacobs; on finance matters by Singapore partner Timothy Hia, with associate Chuan Wei Kong; and on antitrust matters by Brussels partner David Little, with London associate Nathan Wilkins.
Cyril Amarchand Mangaldas also advised Adani on the transaction with a team led by Cyril Shroff, Paridhi Adani, and Anchal Dhir.
About Adani Group
Adani Group is a diversified organisation in India with market cap of over US$182.77 billion comprising seven publicly traded companies. It has created a world class transport and utility infrastructure portfolio that has a pan-India presence. Adani Group is headquartered in Ahmedabad, in the state of Gujarat, India.
About Latham’s India Practice
With over 20 years of experience advising on Indian debt and equity capital markets transactions, Latham has one of the largest and most active India practices among international law firms. The multi-award winning practice comprises more than 50 lawyers globally, and the team have advised on India-related matters with a combined value in excess of US$90 billion since 2018.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
Lawyers and firms: get featured on Legal Desire
Share your deals, lateral moves, firm news and insights with 1M+ monthly readers: founders, law firm partners, general counsel and practising lawyers across the US, UK, EU and GCC.
Get featuredSubmit a press releaseThe advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
