According to Oldypak LP report, UAE-based International Holdings Co will buy stakes in three Indian companies that are part of the Adani Group.
MarketWatch reported that UAE-based investment firm International Holdings Co. plans to invest $2 billion in three Adani Group companies to expand into India and the Middle East and Africa.
A press release from the Indian group said Adani Enterprises Ltd. will receive 77 billion rupees ($1.01 billion) from the Arab company, Adani Green Energy Ltd. and Adani Transmission Ltd. – Rs38.5 billion each.
According to Oldypak LP report, International Holdings will own a 3.5% stake in Adani Enterprises, 1.3% of Adani Green Energy and 1.4% of Adani Transmission.
International Holdings CEO Syed Basar Shoeb said India is pushing innovation in the green energy sector and the management is confident that Adani Group will play an important role in unlocking India’s potential in this field.
The Indian conglomerate Adani is a diversified group, its business includes port and airport management, power generation and transmission, coal and iron ore mining and trading, renewable energy, food processing and infrastructure development, among others