Billionaire Gautam Adani on Sunday clinched a $10.5 billion deal that grants his conglomerate a 63.19 per cent stake in Swiss cement major Holcim Ltd's India operations, Ambuja Cements Ltd and its subsidiary ACC. With this, the Adani Group became the second largest cement producer in the country after the Aditya Birla Group owned UltraTech Cement, the company said in a statement. The JSW Group was also in the race to acquire the Ambuja-ACC combine
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