Adani Group
Billionaire Gautam Adani’s group has issued a clarification on reports of Kenya canceling deals worth more than $2.5 billion following a US indictment on bribery charges. Adani Group said it has not entered into any binding agreement to operate Kenya’s main airport. Regarding the agreement signed last month to build and operate major power transmission lines in Kenya for 30 years, the group said the project does not fall within the scope of SEBI’s disclosure rules, hence no disclosure is required on its cancellation. .
Was to get the responsibility of operating the major airport
The group said this while replying to the notices sent by the stock exchanges. Stock markets were keen to ascertain the veracity of reports about Kenyan President William Ruto canceling the purchase process after the group’s founder was indicted in the US. Under the deal, the Adani Group company was to get control of the country’s main airport. Adani Enterprises Limited, the flagship company of billionaire Gautam Adani’s group that runs the airport business, said in a stock exchange filing that in August this year it set up a subsidiary in Kenya to upgrade, modernize and manage airports. Was.
no deal
The company said, “The company was in discussion with the concerned authority for the said project. But to date neither the company nor its subsidiary companies have been awarded any airport project in Kenya. “Furthermore, no binding or definitive agreement has been made with respect to any airport in Kenya.”
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