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Total halts new investment in Adani
Millennium Post Delhi
|New Delhi 26November2024
French energy giant TotalEnergies SE on Monday said it was not aware of the corruption investigation its partner Adani group's founder chairman was facing in the US and that it is pausing fresh investments in the conglomerate pending the outcome of the charges.
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Separately, GQG Partners, which made huge bets on Adani group post hammering it saw in the aftermath of the Hindenburg Report last year, said the indictment is against individuals only and the bet it made on the group holds good.
"This indictment does not target AGEL itself, nor any AGEL-related companies," TotalEnergies said.
"Until such time when the accusations against the Adani group individuals and their consequences have been clarified, TotalEnergies will not make any new financial contribution as part of its investments in the Adani group of companies."
This story is from the New Delhi 26November2024 edition of Millennium Post Delhi.
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