Tycoon Gautam Adani to raise $2.5bn from green deal with Total
Mumbai — Indian billionaire Gautam Adani is raising $2.5bn from a deal that includes the sale of a minority stake in his renewables business to French energy giant Total, a transaction that may help the tycoon cut group debt.
Paris-based Total will acquire 20% of Adani Green Energy and a board seat as well as a 50% stake in a portfolio of operating solar assets with 2.35 gigawatts capacity, the company said on Monday in a statement, confirming an earlier report by Bloomberg News. Adani Green’s shares have more than quadrupled in value in the past year in Mumbai, giving the company a market value of about $20bn...
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