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Adani Eyes Global Energy Storage Giant VTTI
29 Oct
Summary
- Adani Group explores acquisition of Dutch energy storage firm VTTI.
- Potential deal values VTTI at approximately €3 billion ($3.4 billion).
- VTTI operates global fuel and chemical storage terminals.
Adani Group, the conglomerate led by India's wealthiest individual Gautam Adani, is in discussions to potentially acquire Dutch energy storage firm VTTI. People familiar with the matter stated that the acquisition could be valued at approximately €3 billion ($3.4 billion).
VTTI, which operates global terminals for storing fuels and chemicals, is partly owned by IFM Investors, Vitol SA, and Abu Dhabi National Oil Co. These co-owners are reportedly considering reducing their stakes in any transaction.
This potential deal underscores Adani Group's strategy to expand its international infrastructure portfolio, particularly in a market where energy storage facilities are becoming increasingly valuable due to supply chain uncertainties. The group has been actively pursuing overseas acquisitions to accelerate its growth.
