Abu Dhabi-based International Holding Company PJSC (IHC) has completed its $2 billion (AED 7.3 billion) investment transaction in the Adani Portfolio companies, including Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL), and Adani Enterprises Limited (AEL), the firms confirmed today.
This transaction is part of a a vast empire-building exercise undertaken by Indian billionaire Gautam Adani, who became the richest person in Asia this year, Bloomberg reported.
After years of focusing on coal and infrastructure-related plays, Adani is branching out in line with his growing fortune, buying up a range of assets from a premium rice brand and travel portal to a green energy firm from Softbank Group Corp.
A $10.5 billion pact announced on Sunday. 15 May to buy the Indian operations of Swiss building-materials firm Holcim Ltd., capped a run of some 32 acquisitions for Adani the past year, valued at about $17 billion, according to data compiled by Bloomberg News.
A first-generation entrepreneur whose net worth currently sits at $102 billion, according to Bloomberg’s Billionaires Index, Adani has rapidly diversified into new areas like data centers, digital services, cement, and media.
After acquiring one of the most controversial coal mining projects in Australia, Adani is making a firm pivot toward sustainable energy longer term.
These are some of the Adani Group’s key deals the past year:
| No. | Acquirer | Target | Sector | Value |
| 1 | Adani Group | ACC, Ambuja | Cement | $10.5 Billion |
| 2 | Adani Enterprises | Quintillion Media | Media | NA |
| 3 | Adani Wilmar | Kohinoor Basmati Rice Brand | Food | NA |
| 4 | Adani Ports | Ocean Sparkle | Marine | $218 Million |
| 5 | Adani Enterprises | Cleartrip | Travel | NA |
| 6 | Adani Enterprises | Sadbhav Infra | Road | $215 Million |
| 7 | Adani Green Energy | SB Energy | Renewables | $3.5 Billion |
| 8 | Adani Green Energy | Sterling & Wilson | Renewables | $57 Million |
| 9 | Adani Green Energy | SkyPower Global | Renewables | NA |
| 10 | Adani Ports | Gangavaram Port | Marine | $463 Million |
| 11 | Adani Ports | West Container Terminal, Sri Lanka | Marine | NA |
| 12 | Adani Ports | Gangavaram Port | Marine | $251 Million |
| 13 | Adani Ports | Dighi Port | Marine | NA |
| 14 | Adani Transmission | Warora-Kurnool Transmission | Transmission | $433 Million |
| 15 | Adani Sportsline | UAE T20 Cricket team | Sports | NA |
Adani is “a sharp and ambitious tycoon who wants to have a finger in nearly every pie,” said Arun Kejriwal, founder at KRIS, an investment advisory firm in Mumbai.
The 59-year-old businessman has now built the financial muscle needed to pull off a flurry of deals, Kejriwal said, adding that “he is capable of getting financial support from sovereign funds and can resort to leveraged buyouts.”
Global giants TotalEnergies SE and Warburg Pincus LLC invested in Adani’s companies last year.
The tycoon is also said to be scouting for targets among local media firms and is exploring partnerships with Saudi Aramco, Bloomberg reported. Separately, a pact with South Korea’s Posco was announced in January for a green steel mill.
“There is nothing slow about Adani,” Kejriwal concluded. “Everything is like a rapid fire.”
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