Adani Group, an Indian multinational conglomerate, completed the acquisition of the Indian business of Holcim, a building solutions provider, for $10.5bn. "Our move into the cement business is yet another validation of our belief in our nation's growth story. Not only is India expected to remain one of the world's largest demand-driven economies for several decades, India also continues to be the world's second largest cement market and yet has less than half of the global average per capita cement consumption. We believe that we will be able to build a uniquely integrated and differentiated business model and set ourselves up for significant capacity expansion," Gautam Adani, Adani Group Chairman.