Adani Group Eyes HeidelbergCement India: A $1.2 Billion Expansion Move

The Adani Group reportedly plans to acquire HeidelbergCement India's operations for around $1.2 billion. The news sent HeidelbergCement's shares soaring 4% on Monday. Ambuja Cements, part of the Adani Group, will lead the acquisition. The stock of HeidelbergCement hit its 52-week high, while Ambuja Cements' shares dropped.

HeidelbergCement India's shares climbed 4% amid reports on Monday that Adani Group is negotiating to buy the company's Indian operations from Germany's Heidelberg Materials.

The proposed acquisition, expected to be valued around $1.2 billion, will be spearheaded by Ambuja Cements, part of Gautam Adani's conglomerate.

As news of the acquisition broke, HeidelbergCement's stock surged, marking a 52-week high, despite a decline in Ambuja Cements' shares. The move is part of Adani Group's strategic growth within the cement sector, following its acquisition of Holcim's stake in Ambuja Cements last year.

(With inputs from agencies.)