Adani Group Evaluates 3.4 Billion Dollar VTTI Acquisition
Adani Group is considering a 3.4 billion dollar acquisition of energy storage firm VTTI as part of a strategy to expand its overseas footprint.
The Adani Group is evaluating a potential acquisition of VTTI, a Rotterdam-based energy storage company that operates global terminals for chemicals and fuels. The deal would value the firm at approximately 3 billion euros, or 3.4 billion dollars.
Abu Dhabi National Oil Company, which holds a 10% stake in VTTI, is considering a complete exit from the company. The other primary owners, IFM Investors Pty and Vitol SA, each hold roughly 45% and may also reduce their positions. Deliberations remain ongoing as other bidders pursue stakes in the firm.
This potential purchase aligns with a broader strategy by the conglomerate to accelerate growth through international acquisitions. The move follows a recent unsuccessful attempt by the group to acquire Associated British Ports.
