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Billionaire Gautam Adani is betting that India is on the cusp of a multiyear boom in housing and infrastructure construction, striking an up-to-$10.5 billion deal that will turn his conglomerate into the country’s second-largest cement producer.
The businessman’s Adani Group plans to buy control of two Indian-listed cement companies from Switzerland-based Holcim and is also offering to buy stock in both targets from other shareholders, through what is known as an open offer.
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