Singapore: Banking and financial services company DBS Group says it has controlled its exposure to India-based Adani Group. Chief executive officer Piyush Gupta said "They're solid, cash-generating companies, so we're not concerned about the exposure," according to Reuters. He added that the cement industry has ‘”huge potential” in India. The company was part of a group of banks that lent Adani Group US$10.5bn to fund its acquisition of Ambuja Cement and ACC from Holcim in 2022. DBS Group contributed around US$751m. Adani Group has seen its share price fall since US-based short-seller Hindenburg Research accused it of stock manipulation and accounting fraud in late January 2023.
DBS Group not concerned about financial exposure to Adani Group
Written by Global Cement staff
Published in
Global Cement News
Tagged under
Register for the Global Cement Weekly email newsletter
Global Cement Weekly is Global Cement’s weekly email newsletter. Keep up to date with cement industry news, analysis, diary dates and news of people in the sector.
URL: https://www.globalcement.com/news/item/15313-dbs-group-not-concerned-about-financial-exposure-to-adani-group
© 2024 Pro Global Media Ltd. All rights reserved.