French company Total announced that it has acquired a minority stake of 20% in renewable energy company AGEL for $2.5 billion.
AGEL is owned by the Adani Group, led by Gautam Adani, the second-richest billionaire in India, with a market value of approximately $20 billion. Following the announcement of the deal, Adani Green's stock fell by 2%, and Adani's wealth decreased by about $574 million. The value of the deal is about $1.5 billion less than the market value of the 20% stake, which, according to today's stock price, is around $4 billion.
