Business

Adani Group Sells Rs. 15,446 Crore Stake To GQG Partners

On Thursday, in an official release to the bourse, Adani group said it has sold minority stakes in four of the conglomerate’s listed companies to American equity investment boutique GQG Partners for Rs. 15,446 crore.

According to the company statement, “GQG Partners has become a key investor in the development and growth of critical Indian infrastructure”.

“The share of Adani Ports and Special Economic Zone Ltd (APSEZ), Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL), and Adani Enterprises Ltd (AEL) were sold through secondary market block deals”, the statement read.

Group CFO of Adani Group, Jugeshinder (Robbie) Singh said, “Company is delighted to complete this landmark transaction with GQG. We value GQG’s role as a strategic investor in our infrastructure and utility portfolio of sustainable energy, logistics, and Energy Transition”.

Jefferies India Private Ltd has acted as the sole broker for this transaction.

GQG Partners is one of the world’s leading global and emerging market investors with exceptional long-term track records. It is listed on the Australian Securities Exchange and is majority owned by its employees.

The Chairman and chief investment officer(CIO) of GQG Partners, Rajiv Jain said, “I am excited to have initiated positions in the Adani companies. Adani companies own and operate some of the largest and most important infrastructure assets throughout India and around the world. Gautam Adani is widely known as the best entrepreneur of his generation”.

He further said, “We believe that the long-term growth prospects for these companies are substantial”.

Also read: UN agencies: A Woman Dies Every Two Minutes Due To Pregnancy Or Childbirth

Spriha Rai

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