• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Adani Energy Solutions says no material impact from Kenya energy deal cancellation

by November 24, 2024
written by November 24, 2024

(Reuters) – Adani Energy Solutions said on Saturday that Kenya’s cancellation of a $736 million transmission line project did not require it to make any regulatory disclosure under Indian stock exchange rules as it was within its ordinary course of business.

It said it was responding to a request for clarification from the Bombay Stock Exchange and the National Stock Exchange after Reuters reported that Kenya’s president had ordered the cancellation of the 30-year public-private partnership deal.

“Further, the Company hereby submits that there is no material impact of the Media Report on the operations of the Company,” Adani Energy Solutions said in a statement.

President William Ruto also said on Thursday he had ordered the cancellation of a procurement process that had been expected to award control of Kenya’s main airport to India’s Adani Group.

U.S. authorities on Wednesday indicted Adani Group founder Gautam Adani and seven others, alleging they paid $265 million in bribes to Indian officials. The group denied the allegations.

Under the Kenyan international airport plan, worth nearly $2 billion, the Adani Group was to add a second runway and upgrade the passenger terminal in exchange for a 30-year lease.

Adani Energy Solutions said in its statement on Saturday that it was not involved in the deal to manage and upgrade Kenya’s Jomo Kenyatta airport.

“The Company nor any of its subsidiaries have entered into any contract in connection with any airport in Kenya,” it said.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
JPMorgan breaks down 2 paths for the US economy in 2025
next post
3 times sky-high market valuations ended in big corrections

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • As Fiat stalls, Italy’s Turin struggles to stave off decline
    • US asks Nvidia to probe how its chips ended up in China, Information reports

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy