Air Works, Ambuja Cements, Kohinoor: A Look At Some Major Acquisitions By Adani Group
Learn about some of the key Adani Group acquisitions over the past few years.
The Adani Group's Adani Defence and Aerospace on Wednesday, signed an agreement to acquire maintenance, repair and operations company Air Works which is an independent MRO with the largest pan-India network presence across 27 cities for ₹400 Crore.
Over the last decade, the Adani Group, which is owned by billionaire Gautam Adani, has grown at a tremendous pace, building an empire in various industries through acquisitions. With more than 30 business acquisitions since 2014, the Adani Group is now a considered to be one of dominant player in most of its businesses.
Here are some of the key Adani Group and its subsidiaries acquisitions in the past.
Ambuja Cements Ltd. and ACC Ltd.
In September 2022, the Adani Group acquired a majority stake of 63.1% in Ambuja Cements Ltd. and a 54.5% stake in ACC Ltd. in a $6.4 Billion cash deal with Switzerland-based Holcim. This was one of the largest-ever acquisitions by the Adani Group and also the largest-ever merger and acquisition transaction in the infrastructure and materials space in India. After this deal, Adani has become India’s second-largest cement maker.
Related Story: Adani Bags Ambuja Cements, ACC: Seven Things To Know
SB Energy Holdings Ltd.
In October 2021, just a few days after Adani Group chairman Gautam Adani announced that the Group will invest $20 Billion in the next 10 years in the renewable energy generation space, Adani Green Energy Ltd (AGEL), a subsidiary of the Group, completed the acquisition of SB Energy Holdings Ltd (SB Energy India) in an all-cash deal worth $3.5 Billion. This deal was the largest acquisition in the renewable energy space in the country.
Related Story: Adani Green Completes SB Energy’s Acquisition
DB Power Ltd.
In August 2022, Adani Power Ltd, a subsidiary of the Adani Group, agreed to acquire DB Power Ltd. from the Bhaskar Group to add to its thermal power capacity. With this acquisition, Adani Power can expand its operations and offerings in Chhattisgarh’s thermal power sector. This deal is expected to be completed by October 31, 2022.
Related Story: Adani Power Agrees To Acquire DB Power In A Rs 7,017-Crore Deal
SPPL and EREPL
On June 7, 2022, the Group’s subsidiary Adani Power Ltd. acquired 100% equities in infrastructure development companies Support Properties Pvt. Ltd. (SPPL) and Eternus Real Estate Pvt. Ltd. (EREPL) from their respective shareholders. This acquisition was worth ₹609 Crore.
Kohinoor
Adani Wilmar Ltd., the kitchen essentials company under the Adani Group has recently acquired the ‘Kohinoor’ brand from McCormick Switzerland. This acquisition gives Adani Wilmar Ltd. exclusive rights over Kohinoor’s basmati rice and ready-to-cook, ready-to-eat segments in India. The cost of this deal remains undisclosed.
Airports
The Adani Group is building a strong foothold in Indian airports, serving 100 million passengers annually and operating 6 airports in the country. The Group has recently acquired a controlling stake in the ownership of Mumbai airports and is also rebuilding the Navi Mumbai airport. The Group has raised $250 million in this sector.
Air Works
Air Works was established in 1951 and is a partner to global aviation OEMs, aircraft owners/operators airlines and the Indian defence services. It offers services like MRO and heavy checks, line maintenance, cabin and interior refurbishment, exterior finishing and painting, avionics upgrades, maintenance and even asset management services to domestic and international clients.
Suggested Read: Six Of Seven Adani Group Companies Beat Top Nifty 50 Gainers In 2022
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.