Finance Abu Dhabi’s IHC to sell stake in two Adani entities By Pramod Kumar September 29, 2023 Reuters/Amit Dave The decision to sell off the Adani investment is part of IHC's plan to rebalance its overall portfolio strategy International Holding Company (IHC), an Abu Dhabi-headquartered investment firm, is to sell its stake in two of India’s Adani Group companies. The conglomerate’s subsidiaries, Green Energy Investment Holding RSC and Green Transmission Investment Holding RSC, have entered into definitive agreements with a buyer to sell their stake in Adani Green Energy Limited and Adani Energy Solutions Limited. Abu Dhabi’s IHC to focus on domestic acquisitions Abu Dhabi firm launches $50bn asset manager India-Middle East-Europe corridor to revive spice route “The company is currently completing all required procedures and obtaining all necessary regulatory approvals to implement the signed transaction,” IHC said in a statement to the Abu Dhabi bourse, without disclosing the buyer’s name. Green Transmission held a 1.4 percent stake in Adani Energy Solutions, while Green Energy owned a 1.3 percent stake in Adani Green Energy, according to the Bombay Stock Exchange data. The decision to sell off the investment is part of the company’s plan to rebalance its overall portfolio strategy, IHC added. IHC invested $2 billion in three Adani Group firms – Adani Green Energy, Adani Energy Solutions and Adani Enterprises – in 2022. The Abu Dhabi entity in January invested $400 million in Adani Enterprises’ public offer, which Adani Group head Gautam Adani later called off. IHC is part of a business conglomerate led by its chair, Sheikh Tahnoon bin Zayed al Nahyan, the UAE’s national security adviser and brother of President Sheikh Mohammed bin Zayed al Nahyan.