JSW and the Aditya Birla group's UltraTech lost out to the Adani Group in the race to acquire Ambuja Cements because of the potential delays in getting the Competition Commission of India's (CCI's) approval for the deal, Swiss cement major Holcim's Chief Executive Officer Jan Jenisch told analysts.
Jenisch said the smoothness of the execution of such a transaction was a major factor that influenced the decision. Both JSW and UltraTech had bid higher than the Adani Group for Holcim's stake in Ambuja Cements.
This story is from the May 18, 2022 edition of Business Standard.
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This story is from the May 18, 2022 edition of Business Standard.
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