Adani Group is in advanced negotiations to acquire a majority stake in Emaar India, a subsidiary of Dubai-based Emaar Properties, in a transaction estimated at AED 1.7-2.1 bn, Delhi-based publication Mint reports citing two people it says are familiar with the matter.

How big of a stake is Adani after? Adani Group is looking to snap up between 70-100% of the Indian developer, likely through Adani Realty, an unlisted entity within the Adani Group.

The final terms of the agreement are still under discussion, one of the sources said. If completed, this acquisition would represent Adani Group’s largest purchase in the real estate sector to date.

Remember- UAE ❤️ Adani: The Abu Dhabi Investment Authority invested in Adani Energy Solutions during its USD 1 bn secondary share sale in July of 2024.

IN OTHER M&A NEWS-

Bildco approves sale of steel industry unit for USD 6 mn: Abu Dhabi National Building Materials Company’s (Bildco) board approved a USD 6 mn offer from Egypt-based Al Madina Steel for the production line of its subsidiary Bildco Steel Industries, according to a disclosure (pdf) to the ADX. The board also agreed to look into a proposal from an unnamed company for a potential strategic partnership.

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