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On January 11, UN Secretary-General Spokesperson Stephane Dujarric said on the 10th local time that the United Nations has noticed reports from both the United States and Russia that US President-elect Trump plans to hold talks with Russian President Vladimir Putin. The United Nations welcomes any dialogue between the United States and Russia after Trump officially takes office as president. US media reported on the same day that Trump is planning to hold talks with Putin to resolve the Ukrainian issue. In response, Russian Presidents Press Secretary Peskov said on the 10th that Russia welcomes Trumps willingness to resolve the issue through dialogue. Although there are no specific arrangements at present, there should be further actions after Trump takes office as president.On January 11, the South Korean government said on the 10th that the country will discuss the minimum age standard for the elderly in the near future to deal with issues related to the aging population. According to media reports, the South Korean government intends to raise the minimum age threshold for the elderly to 70 years old. This proposal was made by the Ministry of Health and Welfare of South Korea and has been reported to Acting President Choi Sang-moo. At present, the minimum age standard for the elderly in South Korea is 65 years old.On January 11, the weather in northern and western Japan near the Sea of Japan has been extremely cold recently, with heavy snowfall in large areas over the past few days. In particular, the snow depth in Suoyu, Aomori Prefecture reached 3.7 meters on the 10th. Due to the snowfall, some sections of Japans highways were closed, and some Shinkansen trains were suspended or delayed.British Chancellor of the Exchequer Reeves: The fiscal rules set in the October budget are "non-negotiable". Global financial markets have undoubtedly changed.On January 11, Mitsubishi Motors President Takao Kato was interviewed on January 10. Regarding whether to join the management merger consultation between Honda and Nissan, he said "this is one of the options." Speaking of the envisioned benefits, Kato Takao said "We can actively get help in the North American business (where Mitsubishi Motors has no production base)." Kato Takao also pointed out that in terms of in-vehicle software development, "there will also be scenarios where the technical strength of the two companies will be utilized, which will be very beneficial." Honda and Nissan announced the full launch of management merger consultations in December last year. Mitsubishi Motors previously stated that it will decide whether to join the consultations around the end of January.

Adani Will Become India's Second-largest Cement Producer With The $10.5 Billion Acquisition of Holcim

Haiden Holmes

May 16, 2022 09:55

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Adani Group announced on Sunday that it has bought a majority stake in Holcim (SIX:HOLN) AG's cement assets in India for $10.5 billion to become the second largest cement maker in India.


The conglomerate of Asia's richest man, Gautam Adani, purchased 63.19 percent of Ambuja Cements Ltd and its subsidiary ACC through tough competition with local competitors.


The divestment is Holcim's most recent effort to minimize its reliance on cement manufacture, a carbon-intensive industrial process that has alienated many eco-conscious investors.


In recent years, the Swiss company increased its efforts to abandon carbon-intensive cement production.


Ambuja and ACC have an annual cement production capacity of at least 70 million tonnes, second only to UltraTech Cement's 120 million tonnes.


The Adani family, through an offshore special purpose company, has entered into definitive agreements to acquire Holcim Ltd's full share in Ambuja and ACC, according to a statement from the Adani Group.


Holcim said in a press release that it had reached a binding deal for the Adani Group to acquire Holcim's business in India, including its share in Ambuja Cement, which owns a 50.5% ownership in ACC, and its 4.4% direct stake in ACC. Holcim would receive around $6,400,000,000 for the stakes.


The Adani Group announced that it would purchase additional shares via an open offer.


The deal is anticipated to finalize in the second part of 2022, according to Holcim.


Adani Enterprises Ltd, the flagship company of the Adani Group, includes two cement companies. Adani Cementation Ltd aims to construct an integrated factory in the western states of Gujarat and Maharashtra, according to an Adani group executive.


Ambuja Cement has 14 cement factories and employs 4,700 individuals. ACC employs 6,000 workers and operates 17 cement facilities and 78 ready mix concrete factories.


According to official sources, the most recent transaction was the largest divestiture since Holcim combined with its French rival Lafarge in 2015.


In an effort to concentrate on North America and Europe, the company has since sold off its ancillary business operations.


The company sold its Brazilian operations for $1.02 billion and quit the Philippine and Indonesian markets last year.

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