After GQG, Abu Dhabi's IHC backs Adani over US indictment
Subscribe to enjoy similar stories. Mumbai: International Holding Company (IHC), the investment arm of Abu Dhabi's ruling family, has become the second major investor to reaffirm its faith in the Adani Group after its chairman Gautam Adani was indicted by US federal prosecutors for allegedly bribing Indian government officials. "At IHC, our investment strategy is guided by a commitment to long-term growth and sustainability.
We understand that matters involving individuals are distinct from the operations and potential of the businesses they represent," an IHC spokesperson said in an emailed response to Mint. IHC, which is listed on the Abu Dhabi Securities Exchange, is the third-largest foreign investor in Adani, having put in $2.5 billion. Other large investors include French energy major TotalEnergies ($3.85 billion) and American investor GQG Partners ($3 billion).
Last week, Rajiv Jain-led GQG Partners backed the Ahmedabad-based conglomerate in a note to its investors. The current value of the American firm's investments across seven listed Adani companies is more than $8 billion. Also read | Mint Explainer: What is the US indictment of Gautam Adani all about? The IHC spokesperson said, "Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors." While it continues to evaluate new information and developments, its outlook on the Adani Group is unchanged, the spokesperson added.
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