The Adani Family, through an offshore special purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Switzerland-based Holcim Ltd’s entire stake in two of India’s leading cement companies – Ambuja Cements Ltd and ACC Ltd. Holcim, through its subsidiaries, holds 63.19% in Ambuja Cements and 54.53% in ACC (of which…
Quint Digital Media Limited, a digital media group via its wholly owned subsidiary, entered into a binding term sheet with the Adani Group. Adani Group will acquire a minority stake in Quintillion Business Media Private Limited (QBM), an indirect subsidiary of Quint Digital, a statement said. The proposed transaction with the Adani Group is only…
POSCO and the Adani Group have agreed to explore business cooperation opportunities, including the establishment of a green, environment-friendly Integrated Steel Mill at Mundra, Gujarat, as well as other businesses. The investment is estimated to be up to USD 5 Billion. The non-binding MoU signed between POSCO and Adani intends to further collaborate at the…
Adani Road Transport Ltd (ARTL), a wholly owned subsidiary of Adani Enterprises Ltd (AEL), has entered into a definitive agreement to acquire Maharashtra Border Check Post Network Ltd (MBCPNL), a subsidiary of Sadbhav Infrastructure Project Limited (SIPL). ARTL, which develops, constructs, operates and manages roads and highway projects in India, will acquire a 49% stake…
Flipkart, India’s leading homegrown e-commerce marketplace, announced a strategic and commercial partnership with the Adani Group, India’s largest multinational infrastructure company. In this two-pronged partnership, Flipkart will work with Adani Logistics Limited, the largest diversified end-to-end logistics service provider in the country and a wholly owned subsidiary of Adani Ports & Special Economic Zone Limited,…
Adani Green Energy Limited (AGEL), announced that it has completed the acquisition of 205 MW operating solar assets from Essel Green Energy Private Limited (EGEPL) and Essel Infraprojects Limited (EIL). The assets are located in Punjab, Karnataka and Uttar Pradesh. All the assets have long term Power Purchase Agreements (PPAs) with various state electricity distribution…
The latest ranking of global solar companies by Mercom Capital ranks the Adani Group as the #1 global solar power generation asset owner in terms of operating solar projects. Adani’s renewable energy portfolio exceeds the total capacity installed by the entire United States solar industry in 2019 and will displace over 1.4 billion tons of…