Heidelberg exploring sale of India business; taps Adani, UltraTech and JSW Cement
Heidelberg currently owns a 69.39 percent stake in the company, which is listed on the Indian stock exchanges. Heidelberg’s stake is worth around Rs 3,437 crore at the current market price. A controlling stake sale will trigger a mandatory open offer under SEBI’s takeover norms, for acquiring a 26 percent stake from public shareholders.