Asia's richest man Adani on deals spree in India, abroad

His latest was a set of moves to acquire a large stake in news channel NDTV

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Photo: Reuters
Photo: Reuters

By Reuters

Published: Wed 24 Aug 2022, 11:50 AM

Indian billionaire and Asia's richest man Gautam Adani is making his biggest media bet with a bid to buy a majority stake in the news channel New Delhi Television (NDTV).

His coal-to-edible-oils conglomerate has been on a deals spree over the past two years.



A unit of the Adani group used financial rights, in a bid to buy a 29.18 per cent stake in NDTV, apart from an open offer for another 26 per cent, in line with Indian regulations. He announced the move on August 23, but NDTV, which has a market valuation of about $300 million, claimed that its consent was not sought for this.


On August 19, Adani Power Ltd, India's largest private thermal power producer, said that it would buy thermal power plant operator DB Power for an enterprise value of Rs70.17 billion ($878.61 million).

Road assets

On August 4, Adani Enterprises said that a unit would buy Macquarie Asia Infrastructure Fund's India toll roads in Andhra Pradesh and Gujarat, for Rs31.10 billion.


On July 14, Israel said that it would sell Haifa Port, a major trade hub on its Mediterranean coast, to Adani Ports. It also planned to sell local chemicals and logistics group Gadot to him for 4.1 billion shekels ($1.18 billion).


The Adani Group, in mid-May, said that it would buy Holcim AG's cement businesses in India for $10.5 billion — its largest-ever acquisition — to become the country's No. 2 cement manufacturer.



French energy major TotalEnergies said in June that it would buy a 25 per cent stake in Adani New Industries Ltd, as part of a deal with Adani Enterprises to develop the world's biggest green hydrogen ecosystem.

Total said, in January 2021, that it was paying $2.5 billion for a share in Adani Green Energy Ltd, and its solar power assets.


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