The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit Dave

Cyril Amarchand Mangaldas has advised Indian conglomerate Adani Group on its $10.5 billion purchase of the Indian cement businesses of Switzerland’s Holcim, which has been advised by AZB & Partners.

According to Reuters, this is the biggest-ever acquisition for Adani Group, owned by billionaire Gautam Adani. It currently has no cement-making operations, but the deal will make it the country's No. 2 cement manufacturer, Reuters added.

The CAM team was led by managing partner Cyril Shroff, and partners Paridhi Adani and Anchal Dhir. They were supported by partners Subhalakshmi Naskar and Avaantika Kakkar.

Meanwhile, the AZB team was led by senior partner Ashwath Rau along with partners Kashish Bhatia and Jasmin Karkhanis. Partners Samir Gandhi, Bharat Budholia and Aditya Chandel provided support.


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