There was never a deal for airport operation in Kenya, Adani Group issued a big statement on reports of cancellation of the deal

Billionaire Gautam Adani’s group has issued a clarification on reports of the cancellation of a deal worth more than $2.5 billion by Kenya following a US indictment on bribery charges. Adani Group said it had 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 did not fall under SEBI’s disclosure rules, so no disclosure is required on its cancellation.

Responsibility was to be given for the operation of major airports.

The group said this while responding to notices sent by the stock exchanges. The stock exchanges wanted to know the truth of the reports about Kenya’s President William Ruto canceling the purchase process after the group’s founder was indicted in the US. Under the deal, Adani Group’s company was to get control of the country’s main airport. Adani Enterprises Limited, the flagship company of billionaire Gautam Adani’s group, which operates the airport business, said in a notice to the stock exchange that it had set up a subsidiary of a subsidiary in Kenya in August this year to upgrade, modernize, and manage airports.

no deal

The company said, “The company was in discussions with the relevant authorities for the said project. But to date, neither the company nor its subsidiaries have been awarded any airport project in Kenya. Further, no binding or definitive agreement has been entered into concerning any airport in Kenya.”