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Holcim to invest $800 M to buy stake in ACC
By siliconindia staff writer
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Thursday, 20 January 2005, 20:30 IST
MUMBAI: The world's second largest cement maker Holcim of Switzerland has bid $800 million to buy a majority stake in India's second largest cement maker Associated Cement Companies.
Sources close to the deal said Holcim has tied up with Gujarat Ambuja Cements Ltd. to bid for a majority stake in ACC, a prominent brand across the country. India is the world's second largest cement consumer and foreign companies see a lucrative market in India.