CCI search operations hit Ambuja/ACC (Holcim India) in Dec 2020 over alleged cement cartelisation; in May 2022 Adani agreed to buy Holcim’s India cement stakes for about $10.5bn. Business Standard notes Holcim exit followed intense CCI scrutiny — proximity is not proof of quid pro quo.
2 events · 4 actors · 2 graph links · 4 source rows
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Raid / probe
CCI investigative searches at UltraTech, Shree, Ambuja, ACC and others over alleged price coordination; ACC/Ambuja made exchange disclosures confirming investigation.
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No official/filing sources on this case yet.
news · 2020-12-11 · confidence 78%
news · 2022-05-16 · confidence 86%
Business Standard also notes Holcim planned India exit after CCI scrutiny beginning Dec 2020.
target firm
Holcim India units (Ambuja Cements / ACC)
agency
Competition Commission of India (CCI)
acquirer
Adani Group
other
Ambuja Cements & ACC (Holcim India cement)
