The U.S. Justice Department is close
to dropping criminal fraud charges against Gautam Adani, an
Indian billionaire, two sources familiar with the matter told
Reuters.
Adani on Thursday also resolved a related civil fraud
lawsuit brought by the Securities and Exchange Commission over
an alleged scheme to bribe Indian government officials.
Here are details of Adani Group’s businesses:
Energy
Mines thermal coal and produces power through its
utilities firm Adani Power, which is transmitted via
Adani Energy Solutions.
Adani Green Energy, which is at the centre of the
U.S. indictment, focuses on solar, wind and hybrid power
generation and has a presence in a dozen Indian states.
Adani Total Gas distributes piped natural gas and
is run in partnership with TotalEnergies.
Data Centres
The group earlier this week partnered with Uber
to set up the ride-hailing platform’s first data centre
in India. In February, the group said it will invest $100
billion to build renewable-powered AI-ready data centres by
2035, joining a host of companies that ramped up investments in
order to position India as a contender in the global AI race.
Airports
Since entering the space in 2019, the group
runs eight airports across India, including Mumbai, Jaipur and
Thiruvananthapuram, through its flagship firm, Adani Enterprises
, that has a presence in roadways, real estate and
infrastructure.
Port Operations
Adani Ports is India’s top
private operator by volume and manages 15 domestic ports,
including the country’s busiest private port, Mundra, in the
western state of Gujarat.
Outside India, Adani Ports owns four ports across Australia,
Colombo, Israel, and Tanzania.
Cement
The group entered the industry in 2022, inking
its biggest-ever deal in the space by acquiring Holcim AG’s
stake in Ambuja Cements, and ACC. It
has been on an acquisition spree in a bid to topple India’s top
cement maker, UltraTech Cement.
Media
Adani Group acquired a majority stake in
Quintillion Business Media, a financial news digital media
platform, in 2022. The group struck deals to control majority
stakes in news broadcaster NDTV in 2022 and news
agency IANS in 2023.