MUMBAI -- A $10.5 billion bet on the cement business by India's richest man is set to trigger consolidation across the industry, experts said on Monday.
Gautam Adani announced on the weekend a deal to acquire the Indian cement interests of Swiss construction materials group Holcim. At a stroke, the deal turns Adani group into the second-largest cement manufacturer in India after UltraTech, which is owned by fellow billionaire Kumar Mangalam Birla.
