The Adani Group is in talks to buy the Indian cement operations of Germany's Heidelberg Materials in a deal that could be worth about $1.2 billion, the Economic Times reported on Monday, citing people familiar with the matter.

In a $1.2 billion deal, Adani Group plans to acquire Heidelberg Materials' Indian cement operations, after recent acquisitions.

The potential deal is the latest in Adani Group's massive expansion push in the cement sector. The company entered the industry in 2022 by acquiring Holcim's stake in Ambuja Cement

The Adani Group is in talks to buy the Indian cement operations of Germany's Heidelberg Materials in a deal that could be worth about $1.2 billion, the Economic Times newspaper said on Monday, citing people familiar with the matter.

Shares of Heidelberg Cement rose 17% on Monday's trading session. What Happened: The Adani Group is said to be negotiating the purchase of Heidelberg’s cement unit in India, as per a report by The Economic Times.