Ahmedabad, ,10/3: Gautam Adani seeking to sell a stake in Ambuja Cement for about $450 million, the Financial Times reported on Friday, citing people familiar with the matter.
Adani on Thursday made a formal request to international lenders to sell 4 per cent to 5 per cent in Ambuja, his cement business, the report said.
The Adani Group did not immediately respond to a Reuters request for comment.
The embattled Adani Group last year acquired Holcim AG’s cement businesses in India – Ambuja Cements and ACC Ltd – for Rs 86 thousand crore ($10.5 billion), its largest-ever acquisition.