Exposure to Adani Group is limited, not re-evaluating stakes: TotalEnergies
(Reuters) -French oil major TotalEnergies SE said on Friday its exposure to ventures with India’s Adani Group is limited and is not re-evaluating its stakes in Adani Total Gas and Adani Green Energy.
Shares in Adani Group firms have plummeted in the past week since U.S. short seller Hindenburg’s Jan. 24 report which questioned the company’s debt levels and use of tax havens. The group has called the report baseless and affirmed its financials are strong.
Total has a 37.4% stake in Adani Total Gas (ATGL) and a 19.75% stake in Adani Green Energy (AGEL), according to its statement on Friday.
