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France's TotalEnergies says its Adani exposure limited

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TotalEnergies said on Friday its exposure to ventures with India's Adani Group was limited and that it had not revalued its stakes in Adani Total Gas and Adani Green Energy after sharp falls in their share prices.

"These investments being accounted for under the equity method, TotalEnergies has not performed any re-evaluation in its accounts of its stakes in the listed entities ATGL and AGEL," Total said in a statement.

Its investments were undertaken in compliance with Indian laws and its own governance process, TotalEnergies said. "This represents just 0.1% of the $35.1 billion of net income that we expect TotalEnergies to 2022," Clint wrote in an investment note earlier this week.

 

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