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Companies Lafarge Sa FollowHolcim AG FollowNEW YORK, Oct 18 (Reuters) - French cement maker Lafarge pleaded guilty on Tuesday to a U.S. charge that it made payments to groups designated as terrorists by the United States, including Islamic State, according to a court hearing. The admission in Brooklyn federal court marked the first time a company has pleaded guilty in the United States to charges of providing material support to a terrorist organization. The cement maker previously admitted after an internal investigation that its Syrian subsidiary paid armed groups to help protect staff at the plant. Holcim said that former Lafarge executives involved in the conduct concealed it from Holcim, as well as from external auditors. Rights groups in France in 2017 accused Lafarge of paying 13 million euros ($12.79 million) to armed groups including Islamic State militants to keep operating in Syria between 2011 and 2015.

☆ Indian billionaire Gautam Adani was a college dropout. Now he may be too big to fail
▼ + stars: | 2022-10-10 | by ( Diksha Madhok | ) edition.cnn.com time to read: +11 min

Indian billionaire Gautam Adani’s conglomerate had just launched a hostile bid to take over an influential broadcaster in the capital. Rupak De Chowdhuri/ReutersMuch of his fortune is tied up in the sprawling Adani Group, which he founded over 30 years ago. Most of the companies in the Adani empire are held closely by the billionaire, his family and associated firms, including nearly 75% stakes in AEL, Adani Power, and Adani Transmissions. Yet, the Adani Group has continued to raise billions from Indian and foreign banks. CreditSights, a research firm owned by Fitch Group, in August published a report about Adani Group titled “Deeply Overleveraged” in which it expressed strong concerns.

☆ India's Adani pledges shares of ACC, Ambuja Cements worth about $12.5 billion
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Amit DaveBENGALURU, Sept 20 (Reuters) - India's Adani Group has pledged shares worth about $12.5 billion in two cement units, days after the conglomerate controlled by billionaire Gautam Adani completed the purchase of stakes in those businesses from Switzerland's Holcim (HOLN.S). The pledged shares of ACC and Ambuja were worth around 989.46 billion rupees based on Monday's closing prices and accounted for a 57% stake in ACC (ACC.NS) and a 63% stake in Ambuja Cements (ABUJ.NS). (https://bityl.co/EZE6) (https://bityl.co/EZEE)Deutsche Bank AG's Hong Kong branch, which is the agent for the pledged shares in ACC and Ambuja, made the disclosure in filings to India's stock exchanges. Register now for FREE unlimited access to Reuters.com RegisterThe group in May announced the acquisition of Holcim's cement businesses in India for $10.5 billion to become the country's No. read more($1 = 79.7210 Indian rupees)Register now for FREE unlimited access to Reuters.com RegisterReporting by Chris Thomas in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

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