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Mumbai, Sept. 21 Swiss cement major Holcim has increased its shareholding in Ambuja Cements by 3.9 percentage points to 36.2 per cent. The company bought 6 crore shares for Rs 914 crore, at Rs 154 a share from two holding companies of the promoter family through two block deals, according to the BSE Web site.

The acquisition cost is at a premium to the current share price of the company. Ambuja shares closed at Rs 147.2 on the BSE, gaining 1.05 per cent on Friday. This buy is in keeping with Holcim’s announcement last month that it would be acquiring a 3.9 per cent stake in Ambuja from the Sekhsaria-Neotia family, as well as making an open offer for an additional 20 per cent stake, both at Rs 154 per share.

In all, Holcim would be investing $1.34 billion, or Rs 5,500 crore to increase its stake in the cement company from 32.3 per cent to 56.2 per cent. The Swiss company already holds a stake of over 42 per cent in ACC Ltd.

More Stories on : Mergers & Acquisitions | Cement | Gujarat Ambuja Cements Ltd

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