Apollo Global Management May Lend $1 Bn to JSW for Ambuja Cements Buy
Apollo Global Management may join hands with Sajjan Jindal-led JSW Group to buy the business of Ambuja Cement. The company plans to offer up to $1 billion to JSW Group for bidding. Apollo Global Management already holds a minority stake in JSW Cement. Ambuja Cement’s parent company Holcim Limited has decided to wind up business with India. Under this decision, the company is selling its stake in Ambuja Cement. Holcim Ltd. controls 63.1 per cent stake in Ambuja Cement. Interestingly, Apollo Global Management in association with Mukesh Ambani is also considering bidding for UK-based retail company ‘Boots’. If this joint bid is successful, Boots’ business could be expanded to Southeast Asia and West Asia, including India.
Tags : Apollo Global Management Lend $1 Bn JSW Ambuja Cements Sajjan Jindal Mukesh Ambani Holcim Limited