TotalEnergies says investments in Adani entities comply with Indian laws

PARIS (Reuters) – French oil major TotalEnergies said on Thursday its investments in three subsidiaries of embattled Indian conglomerate Adani were undertaken in full compliance with Indian laws and with TotalEnergies’ own governance processes.

The group, responding to a Le Monde report detailing allegations of financial irregularities that short-seller Hindenburg Research has levelled against Adani, said that at current market prices its interests in Adani entities would be worth $5.1 billion.

That represented a significant capital gain from the end of 2022, when such investments stood at $3.1 billion, TotalEnergies said in a statement.

(Reporting by Silvia Aloisi; Editing by Mark Potter)