Reportedly, TotalEnergies is planning to sell up to 6 per cent of its stake in Adani Green Energy Limited (AGEL), with the stake valued at around USD1.14 billion.
The company currently holds nearly 19 per cent in AGEL through two subsidiaries and had originally invested USD2.5 billion in 2021. The proposed divestment is aimed at partial profit realisation as the valuation of TotalEnergies’ holding has significantly appreciated. The stake may be offered to AGEL itself, which is evaluating the proposal.