GQG Partners Buys Additional Stake in Adani Ports

Reuters
Sunday, August 20, 2023

Investment firm GQG Partners raised its stake in Adani Ports And Special Economic Zone Ltd on Aug. 17 to 5.03% after buying more shares, GQG said in a disclosure on Saturday.

GQG Partners, which held a 4.93% stake in Adani Ports, acquired another 0.10% or 2.2 million shares of the company through a bulk deal, the disclosure made late on Saturday said.

The investment comes after Deloitte quit as auditor for Adani Ports, in the first such move after U.S. short-seller Hindenburg Research's critical report on the Adani group that was published in January.

The Adani group has denied all Hindenburg's allegations.

Reuters reported last Wednesday that GQG partners bought an 8.1% stake in Adani Power for $1.1 billion via block deal.

(Reporting by Jose Joseph in Bengaluru; Editing by Tomasz Janowski, Toby Chopra and Jane Merriman)

Categories: Ports

Related Stories

Brazil Port Terminals Call for Dredging Amidst El Niño Threat

Crowley Adds Container Service Connecting Port Houston and Central America

Portchain and X-Press Feeders Partner on Efficiency

Current News

ARC Group Receives FEMA Award for Disaster-Relief Supply Deliveries

Strong Demand in India Flips Russian Urals to Premium

Decrepit Port Infrastructure has Vessels Stacked Off Venezuela

Ships Trickle Through Strait of Hormuz

Subscribe for Maritime Logistics Professional E‑News