By April 2022, TotalEnergies’ $2 billion investment in Adani Green Energy had ballooned to over $11 billion in value as the share price soared. But now, the French company is sitting on a loss. Its shares are worth just $1.7 billion—down from $7.3 billion at the start of the year—due to the Hindenburg-driven rout in Adani Group shares.
The structure of the deal also suggests tax benefits for TotalEnergies. Absent tax benefits, “It doesn’t make sense for [Total] as a company,” says Damodaran. “It creates a layer between [them] and [their] holding.” “We welcome the independent assessment that is being organized and we look forward to its results as well as the conclusions of investigations of the relevant Indian authorities,” the TotalEnergies spokesperson added.found that the price that TotalEnergies paid for the Adani Green Energy shares on January 21, 2021—the day the deal closed—was 8% lower than the average price of the shares over the previous year and 62% lower than the average over the previous six months.
Report summary:- Hidenbuerg Report alone is not sufficient to bankrupt Indian buisness So here forbes came up with another shit to make narrative against Adani more powerful