Billionaire Gautam Adani’s group on Saturday clarified over reports of Kenya canceling deals worth over $2.5 billion following US indictment on bribery charges, saying it has not struck any deal to operate Kenya’s main airport. . On 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 ambit of SEBI’s disclosure rules, hence no disclosure is required on its cancellation. .
What was the matter?
The group said this while responding to the notices sent by the stock exchanges. Stock markets wanted to know the truth about 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 operates the airport business, said in a stock exchange filing that in August this year it set up a group subsidiary in Kenya to upgrade, modernize and manage airports. Was.
Adani Group had not done any deal
The Group stated that the Company was in discussion with the relevant authority for that project, but to date neither the Company nor its subsidiaries have been awarded (1) any airport project in Kenya, or (2) No binding or definitive agreement has been made in relation to any airport. He did not confirm or deny reports of Kenya canceling the airport deal.
