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Adani likely to launch nearly INR 31,000 cr open offer for ACC, Ambuja next week

admin by admin
April 21, 2023
in News
Adani likely to launch nearly INR 31,000 cr open offer for ACC, Ambuja next week
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Adani likely to launch nearly INR 31,000 cr open offer for ACC, Ambuja next week

The Indian listed subsidiaries of Swiss company Holcim, ACC, and Ambuja Cements, are expected to receive an open offer from Adani Group the following week for the purchase of a 26% stake. In the event that the open offer is fully subscribed, Adani will pay close to $31,000 crore. The open offer received approval from market watchdog Sebi earlier this week.

The letters of the open offer have been posted on stock exchanges by both Ambuja Cements and ACC. A cash offer to purchase 4,89,56,419 fully paid-up equity shares with a face value of $10 each at a price of $2,300 per equity share, representing a 26% stake in ACC, is described in the regulatory filing.

A cash offer is made to Ambuja Cement to purchase 51,63,52,655 equity shares with a face value of $2 each for $385, which represents 26% of the equity. Nevertheless, the cash offer for ACC and Ambuja Cement is valued at approximately 11,259.97 crore and 19,879.57 crore, respectively.

The open offer will begin on August 26 instead of July 6, according to a PTI report. As of September 9, 2022, this will be over. The open offer has been made by Endeavour Trade and Investment. Acropolis Trade and Investment is the company’s promoter, and some Adani family members are its stockholders. The open offer’s managers are Deutsche Equities India and ICICI Securities.

Adani and Holcim entered into formal agreements in May of this year to buy out the Swiss company’s entire stake in Ambuja Cements and ACC, two of India’s top cement producers. Through its subsidiaries, Holcim owns 54.53% of ACC (of which 50.05% is held through Ambuja Cements) and 63.19% of Ambuja Cements.

The open offer consideration and Holcim’s stake in Ambuja Cements and ACC are valued at about $10.5 billion, making this the largest acquisition by Adani and the largest M&A deal in India’s history for infrastructure and materials.

The installed production capacity of Ambuja Cements and ACC is currently around 70 MTPA. With a vast depth of manufacturing and supply chain infrastructure, the two businesses rank among the strongest in India. They have 23 cement plants, 14 grinding stations, 80 ready-mix concrete plants, and more than 50,000 channel partners spread out across the country.

Additionally, Ambuja and ACC employ 10,700 people across 31 cement manufacturing facilities and 78 ready-mix concrete plants in India. Both ACC and Ambuja Cement are publicly traded businesses on the Mumbai stock exchange. It is anticipated that the transaction will close in the second half of 2022, subject to local authorities’ approval.

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Top 10 Most Followed Account on LinkedIn Hello Business Connect Reader, on this post, we will discuss the ten most followed accounts on LinkedIn. LinkedIn is the largest business-originated online platform geared, especially towards professionals. The platform has 830 million members and over 58 million registered companies. Usually, people use it to keep in touch with business associates, clients, and coworkers. But it is more than that, especially these days. With this, people create brand awareness and share their thoughts. That is how engagement begins. And eventually converted into a follower (If people like what others offer on it.) One of the best ways to understand LinkedIn is to look at the current most followed account on LinkedIn. Let’s look at the most followed people on LinkedIn. What are their professions? 1. Bill Gates - Co-chair Bill & Melinda Gates Foundation Bill gates is the single most followed account on LinkedIn with over 35.8 million followers. I am sure nobody needs his introduction. On his LinkedIn account, he shares thoughts behind his philanthropic decision, including wisdom gleaned from his friends Warren buffet and ex-partner. Apart from that, Bill also talks about books, innovation, climate change, and health issues. Recently he launched a new book called “How to prevent the next pandemic.” Bill mentioned in his newsletter and TED talk show, “If we make the right choices and investment, we can make Covid-19 the last pandemic.” 2.  Richard Branson - Founder - Virgin Group With over 19.8m, Richard Branson is the second most followed person on LinkedIn. With his followers, he shares all sorts of topics in his content, such as startups and entrepreneurship (he has built more than 400), space travel, creating fun workplace cultures, finding ways for people to be more productive, and many more. His approach to work-life balance: “There is no separation between work and life – it’s all living.” 3. Jeff Weiner – Former CEO of LinkedIn Jeff Weiner is the third most influential person on LinkedIn, with over 10.7m followers. He is an American Businessman and was the chief executive officer of LinkedIn for around 11 years. Under his leadership, LinkedIn expanded its membership from 33m in 2008 to nearly a 675millon. In 2020, he wrote an email to LinkedIn employees that On June 1, 2020, he would his next play as LinkedIn’s executive chairman, and Rayan Roslansky would be the next CEO. 4. Arrian Huffington- Founder and CEO at Thrive Arrian Huffington is a Greek-American entrepreneur and author. She is co-founder of new media called “The Huffington Post” and founder and the founder of behavior changes technology called Thrive Global. On LinkedIn, she talks about technology, health, mental health, entrepreneurship, and productivity. No wonder why he has over 10.2 million followers on Linked and has equipped the fifth position on this list. She is the author of many books, including Thrive (2014), The sleep Revaluation, on Becoming fireless … work, life, and love. I’m sure she has a lot to offer to the world. 5. Satya Nadella – CEO of Microsoft Satya Nadella is one of the world’s great influencers for students and entrepreneurs. He is an Indian-American executive chairman of Microsoft, succeeding Steve Ballmer in 2014 as CEO. On LinkedIn, he has over 9.9 million followers on Linked, making him the fifth most followed person. Lately, he posted an article about the digital imperative for every organization, where he talked about how his organization is creating a new opportunity for its partners across the Microsoft Cloud 6. Mark Cuban – Entrepreneur Mark Cuban is an American business tycoon, television personality, and media proprietor whose net worth is an estimated $4.7B. Today, he owns the NBA’s Dallas Mavericks and has a stake in Magnolia Pictures, AXS TV, and many startups. One of his stories was that he was inspired to strike out on his own when he was laid-off from a software shop for closing a $15,000 sale instead of cleaning up the store. Cuban is active on this online platform LinkedIn, where he talks about hot topics like Crypto and AI. With over 7.5 million followers, he is the 6th most followed account on LinkedIn. 7. Tony Robbins – Motivational speaker Motivational coach Tony Robbins is an American motivational speaker, author, and philanthropist. He has provided life advice from entrepreneurs (500 CEOs) to US presidents. Every week, Tony gives multiple seminars where he speaks continually for 10 hours at stretch with the energy of wildebeest in heat. Tony claims that the objective of his seminars is to ease his participants’ mental patterns so they can emerge as ultra-confident beings with the power to get their goals. He is being followed by 7.2 million followers on LinkedIn, which makes him the 7th most followed account on LinkedIn and one of the most followed persons on social media. 8. Melinda French Gates – co-founder of Bill and Melinda gates foundation As co-chair of the world’s largest charitable foundation, Melinda is one of the greatest philanthropists. She is not just a tech-savvy businesswoman but also an advocate for women’s equity. In early 2019, she became the author of the bestselling book “The moment of Lift: Empowering women to change the world.” Melinda has done a lot of work toward women's empowerment. This is why she is one of the most popular personalities on social media. On LinkedIn, she has over 7.1 million followers. 9. Simon Sneak – Author and motivational speaker Simon Sinek is a British-American author and motivational speaker who may be best known for popularizing the concept of “Why” in his first Ted Talk in 2009. It rose to become the 2nd most watched TED talk video of all time and remains in one of the tops with around 9 million views. Besides all of that, he is the author of the best-selling books of all time, including Start with Why and The Infinite game. On LinkedIn, he is one of the most followed accounts and has over 6.2 million followers. 10. Daniela Goleman Daniel Goleman is an author, psychologist, and science journalist. For 12 years, he worked for The New York Times, reporting on the brain and behavioral sciences. His book Emotional intelligence was on The New York Time best sellers list for a year, published in 1995, and half a best seller in many other countries, and is available worldwide in 40 languages. Apart from his book “EI”, he has written books on topics including self-deception, creativity, transparency, meditation, social and emotional learning, and more. With over 5.6 million followers, he is the 10th most followed account on LinkedIn. Must Read:-  Top 10 shoe brands in India for men & women 2021 Top 10 Schools in Delhi 2021, list of best schools for your child Top 10 richest actors in the world 2021 Business vs Job: Which is Better Top 10 series on Netflix 2021, don’t miss these must-watch series Upcoming List of Top Indian Web Series of 2021 Top 10 richest player of the world 2021 Top 10 highest paid CEO in the World Top 10 richest person of India Top 10 Highest Paid CEOs of India The Success Story of Steve Jobs Top 10 Business Magazine In India Top 10 Business Newspaper In India Top 10 richest billionaires in the world 2021

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