Gautam Adani’s Adani Group is exploring possible partnerships in Saudi Arabia. For this, the Adani Group has spoken to Saudi Aramco. According to a Bloomberg report, the Adani Group is also exploring the possibility of buying a stake in the world’s largest oil exporter Aramco.
Let us tell you that there was also a deal between Mukesh Ambani’s Reliance and Aramco. However, Reliance later announced a revaluation of the proposed $15 billion deal to sell a 20 percent stake in its oil refinery and petrochemical business to Aramco.
Initial talks going on: According to the information, the Adani Group has held preliminary talks with Saudi Aramco and the country’s Public Investment Fund (PIF) on possible cooperation and joint investment opportunities. The idea of buying part of PIF’s stake in Aramco has been discussed. There was no immediate comment from the Adani Group.
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The report quoted sources as saying that Adani is unlikely to spend billions of dollars in cash for Aramco’s stock. But at least in the short term, it could try to tie an investment to a wider tie-up or asset swap deal. The Bloomberg report said the discussions are at an early stage.
Adani’s Wealth: According to the Bloomberg Billionaires Index, Gautam Adani is ranked 11th in the list of the world’s rich. Gautam Adani’s wealth has increased by $3.19 billion to $90.5 billion. Adani is the second richest billionaire in Asia.