multimillionaire Gautam Adani’s group has issued a clarification on reports that Kenya canceled deals worth more than $2.5 billion following a US indictment on bribery charges. Adani Group said it has not signed 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, so no disclosure is required. about its cancellation.
He was to assume responsibility for operating the main airport.
The group stated this while responding to notices sent by stock exchanges. Stock markets were eager to test the veracity of reports that Kenyan President William Ruto had canceled the takeover process after the group’s founder was indicted in the United States. According to the agreement, the Adani Group company would take control of the country’s main airport. Adani Enterprises Limited, the flagship company of billionaire Gautam Adani’s group that runs the airport business, said in a stock exchange filing that it had set up a subsidiary in Kenya in August this year to upgrade, modernize and manage airports.
no deal
The company said: “The company was in talks with the competent authority for the said project. But to date neither the company nor its subsidiaries have been awarded any airport projects in Kenya. “Furthermore, no binding or final agreement has been reached with respect to any airport in Kenya.”
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