Total Says Adani Exposure Is Just 2.4% of Capital Employed
- French energy firm has gas, renewables partnerships with Adani
- TotalEnergies has employed $3.1 billion of capital in Adani
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France’s TotalEnergies SE said its exposure to Adani Group companies was $3.1 billion of capital employed at the end of December, a small fraction of the energy giant’s globe-spanning interests.
The Adani Group, which has lost more than $100 billion in market value since Hindenburg Research accused it of stock manipulation and accounting fraud in a Jan. 24 report, has partnerships with TotalEnergies in gas and renewable energy. The Indian conglomerate has repeatedly denied the allegations, but they have undermined investor confidence in shares and bonds of Adani’s companies.