Adani sells stake in Mukesh Ambani-style deal to overseas partner
Adani sells stake in Mukesh Ambani-style deal to overseas partner
Share:

Billionaire Gautam Adani is raising USD2.5 billion through an agreement, ranging from the sale of a minority stake in his renewable business to French energy giant Total SE, a transaction that could help the tycoon cut group debt.

Paris-based Adani will acquire 20 pc of total Green Energy Ltd and a 50 pc stake in a portfolio of solar assets operating with a board seat as well as 2.35 GW of capacity, the company has said in a statement. But in the last one year in Mumbai, the price of Adani Green shares has more than quadrupled, giving the company a market value of around USD 20 billion.

Adani is the most current Indian tycoon to raise funds by promoting a piece of his empire to an overseas companion, as increasing consumption of electrical energy to fuels and mobile information tends to make the nation a desirable location for some investors. Last year, Mukesh Ambani - India’s richest man - mopped up about USD27 billion from Facebook Inc., Google and private-equity investors for his technologies and retail ventures.

The Adani group, which began off as a commodities trader in 1988, has grown quickly to grow to be India’s leading private-sector port operator and energy generator. In 2019, Adani began focusing on airports, and now he’s attempting to enter sectors like information storage and economic services.

Three airports of Adani Group recognised by ACI

Compensation of Rs 5 crore demands from Mumbai for posting against Adani

Hassan Mahmood Exceeding The Limit Of The Sky!

 

Join NewsTrack Whatsapp group
Related News