Abu Dhabi conglomerate International Holding Company says its partnership with Adani and dedication to the Indian market remains steadfast. – AFPpicAbu Dhabi conglomerate International Holding Company said on Thursday it will sell its stake in two of India's Adani Group companies, a move that comes as billionaire Gautam Adani’s business continues its battle against fraud allegations.
The IHC, which is the United Arab Emirates’ largest publicly traded company worth more than US$235.98 billion , said in a stock exchange notice that its subsidiaries have entered an agreement with a buyer to “dispose of” its foreign direct investment in Adani Green Energy and Adani Energy Solutions.
The company’s disclosure to the market aligns with its strategy to rebalance its investment portfolio, IHC said in a statement to Reuters. “Our partnership with Adani and dedication to the Indian market remain steadfast.”