New Delhi:
Adani Group on Saturday clarified reports of Kenya canceling deals worth more than $2.5 billion following US indictment on bribery charges, saying 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. .
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 company operating the airport business, said in a filing to the stock market that in August this year it had established a subsidiary in Kenya for the upgrade, modernization and management of airports.
The company said, “The company was in discussion with the relevant authority for the said 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 with respect to any airport in the U.S.”
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