Abu Dhabi National Energy PJSC (TAQA) plans to invest in India’s Gautam Adani Group
★TAQA is looking to expand its business and is considering investing $1.5 to $2.5 billion in Adani Group, according to sources.
★Investing in Adani Group can provide TAQA with a better way to expand its business.
★TAQA is seeking a stake of up to 20% in Adani Energy Solutions, which is currently held by the promoters of the company.
★The potential deal could be worth around $2.19 billion or INR 18,240 crore based on the current share price of Adani Energy Solutions.
★GQG Partners already holds a 5.5% stake in Adani Energy Solutions.
★TAQA is an energy company that has investments in upstream and midstream oil and gas operations, power generation, and distribution assets across various countries.
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