"UltraTech Cement and Adani Group Consider Entry into Heidelberg Cement Acquisition Race"

UltraTech Cement, a prominent Aditya Birla Group company and India's second-largest cement manufacturer, is considering entry into the competition to acquire Heidelberg Cement. Adani Cement, part of the Adani Group, is also exploring participation in the race, which already features JSW Cement led by Parth Jindal.

Heidelberg Cement, a global building materials company headquartered in Germany, has made its Indian subsidiary available for acquisition. The subsidiary boasts a substantial cement manufacturing capacity of 13.4 million tonnes per annum, distributed across various plants in key Indian states, including Madhya Pradesh, Andhra Pradesh, Telangana, Karnataka, Uttar Pradesh, Maharashtra, Tamil Nadu, and Kerala.

While JSW Cement has initiated unsolicited talks with Heidelberg, the company's exit strategy from India will involve a comprehensive bidding process, according to a source familiar with the matter. Additionally, Heidelberg's Indian subsidiary operates as a listed entity and is obligated to adhere to SEBI's due process, ensuring the protection of investor interests throughout the acquisition proceedings.

HBL