RIYADH: Abu Dhabi’s International Holding Co. has completed a 7.3 billion dirhams ($2 billion) investment transaction in three of Adani Group’s firms.
Abu Dhabi-listed IHC, which has investments in over 100 businesses spanning multiple industries, provided capital to Adani Green Energy, Adani Transmission and Adani Enterprises, according to Emirates News Agency.
All three companies are listed on the Bombay Stock Exchange and India’s national bourse.
"This strategic expansion of our business aligns with IHC's commitment to broadening and diversifying our investment portfolio,” CEO at IHC, Syed Basar Shueb, said.
“There is no doubt that this transaction will directly and positively impact India's overarching ambition for long-term plans for clean energy,” Shueb added.
The transaction represents 4.8 percent of the total trade between UAE and India, he added.
