{"id":79783,"date":"2023-10-02T01:47:23","date_gmt":"2023-10-02T01:47:23","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/ihc-bids-adieu-to-adani-group\/"},"modified":"2023-10-02T01:47:23","modified_gmt":"2023-10-02T01:47:23","slug":"ihc-bids-adieu-to-adani-group","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/ihc-bids-adieu-to-adani-group\/","title":{"rendered":"IHC bids adieu to Adani Group"},"content":{"rendered":"

<\/a> Abu Dhabi-based International Holding Company (<\/strong>IHC<\/a><\/strong>) is offloading its stakes in two <\/strong>Adani Group subsidiaries<\/strong>, IHC said in a disclosure to the ADX<\/a> last week. The decision, which IHC said is part of its \u201cportfolio rebalancing strategy,\u201d will see two of its subsidiaries \u2014 Green Energy Investment Holding and Green Transmission Investment Holding \u2014 \u201cdispose of\u201d their minority stakes in Adani Green Energy<\/a> and Adani Energy Solutions<\/a> to an undisclosed buyer. The value of the transactions was not undisclosed.<\/p>\n

The nitty gritty: <\/strong>Green Energy Investment is selling its 1.26% stake in Adani Green, while Green Transmission is selling its 1.41% holding in Adani Energy Solutions, according to Reuters<\/a>. The move slashes IHC\u2019s exposure to Adani by 50%, the Financial Times<\/a> notes.<\/p>\n

The move comes just 18 months after IHC <\/strong>invested in Adani<\/a><\/strong>, while the Indian company <\/strong>continues to battle fraud allegations<\/strong>, after US short-seller Hindenburg Research<\/a> accused the group of accounting fraud and stock market manipulation earlier this year. While Adani has denied the allegations, the report triggered a sell-off worth USD 150 bn from the combined stock market value of Adani's 10 listed companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Abu Dhabi-based International Holding Company (IHC) is offloading its stakes in two Adani Group subsidiaries, IHC said in a disclosure to the ADX last week. The decision, which IHC said is part of its \u201cportfolio rebalancing strategy,\u201d will see two of its subsidiaries \u2014 Green Energy Investment Holding and Green Transmission Investment Holding \u2014 \u201cdispose […]<\/p>\n","protected":false},"author":1,"featured_media":79784,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[372,11,1500,382,79],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-adani-green","tag-enterpriseclimate","tag-ihc","tag-international-holding-company","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"ccb5c25a-6d67-4449-b6e1-d07bef5e0da3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/648.jpg","photo_position":"above","related_issue":[79769],"teaser":"","voice_url":""},"yoast_head":"\nIHC bids adieu to Adani Group - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/ihc-bids-adieu-to-adani-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IHC bids adieu to Adani Group\" \/>\n<meta property=\"og:description\" content=\"Abu Dhabi-based International Holding Company (IHC) is offloading its stakes in two Adani Group subsidiaries, IHC said in a disclosure to the ADX last week. The decision, which IHC said is part of its \u201cportfolio rebalancing strategy,\u201d will see two of its subsidiaries \u2014 Green Energy Investment Holding and Green Transmission Investment Holding \u2014 \u201cdispose […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/ihc-bids-adieu-to-adani-group\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-02T01:47:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/648.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/ihc-bids-adieu-to-adani-group\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/ihc-bids-adieu-to-adani-group\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"IHC bids adieu to Adani Group\",\"datePublished\":\"2023-10-02T01:47:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/ihc-bids-adieu-to-adani-group\/\"},\"wordCount\":185,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/ihc-bids-adieu-to-adani-group\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/648.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Adani Green\",\"EnterpriseClimate\",\"IHC\",\"International Holding Company\",\"M&A WATCH\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/ihc-bids-adieu-to-adani-group\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/ihc-bids-adieu-to-adani-group\/\",\"name\":\"IHC bids adieu to Adani Group - 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