Adani Group, one of India’s largest conglomerates, has struck a $1.87 billion deal with US firm GQG, as reported by several news outlets including BBC, Financial Times, Yahoo Finance, Reuters, and Nikkei Asia.
According to the reports, GQG has invested $1.9 billion in Adani companies, acquiring a stake in the group. Adani Family has also sold $1.9 billion worth of its stock to GQG.
The investment comes at a crucial time when Adani Group is facing multiple challenges including protests from farmers and environmentalists against the construction of a new coal mine in Australia, as well as legal battles in India.
However, the deal has been viewed as a positive development for the company and its shareholders, as it will provide a much-needed cash infusion and potentially boost Adani’s operations in various sectors.
The investment also signals growing interest from international investors in India’s burgeoning economy, and the potential impact of foreign investments on the country’s business landscape.
The Adani-GQG deal has been applauded by some, but also criticized by others who believe that it raises questions about the transparency and sustainability of Adani’s business practices.
The details of the deal and its potential impact on Adani Group and the wider business community in India still remain to be seen.