<p>Asia's richest man Gautam Adani's group on Sunday said it has clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for $10.5 billion, marking the ports-to-energy conglomerate's entry into the cement sector.</p>.<p>Adani has in the last couple of years diversified beyond the core business of operating ports, power plants and coal mines into airports, data centres and clean energy.</p>.<p>The group last year set up two cement subsidiaries - Adani Cementation Ltd which was planning to set up two cement units at Dahej in Gujarat and Raigarh in Maharashtra; and Adani Cement Ltd.</p>.<p>The deal will make billionaire Gautam Adani's conglomerate the second-largest player in the domestic cement sector by acquiring the joint control of Holcim's two Indian step-down firms ACC Ltd and Ambuja Cement.</p>
<p>Asia's richest man Gautam Adani's group on Sunday said it has clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for $10.5 billion, marking the ports-to-energy conglomerate's entry into the cement sector.</p>.<p>Adani has in the last couple of years diversified beyond the core business of operating ports, power plants and coal mines into airports, data centres and clean energy.</p>.<p>The group last year set up two cement subsidiaries - Adani Cementation Ltd which was planning to set up two cement units at Dahej in Gujarat and Raigarh in Maharashtra; and Adani Cement Ltd.</p>.<p>The deal will make billionaire Gautam Adani's conglomerate the second-largest player in the domestic cement sector by acquiring the joint control of Holcim's two Indian step-down firms ACC Ltd and Ambuja Cement.</p>