GQG Partners Buys Additional Stake in Adani Ports

August 20, 2023

© ArLawKa / Adobe Stock
© ArLawKa / Adobe Stock

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)

Logistics News

Port Everglades Signs 10-Year Lease Agreement with Everglades Company Terminal

Port Everglades Signs 10-Year Lease Agreement with Everglades Company Terminal

Konecranes Finalizes Portal Jib Crane Deliveries to U.S. Navy

Konecranes Finalizes Portal Jib Crane Deliveries to U.S. Navy

Fortescue Green Pioneer: Proving Ground for Ammonia as Maritime Fuel

Fortescue Green Pioneer: Proving Ground for Ammonia as Maritime Fuel

UAE Blamed for Port Sudan Drone Attacks

UAE Blamed for Port Sudan Drone Attacks

Subscribe for Maritime Logistics Professional E‑News

Pre-tariff US traffic boosts revenue from the Ferrovial Highway
WGC - Despite challenges, major LNG suppliers push new projects to feed the global demand for power
Maguire: World solar power set to surpass nuclear generation for the first ever