Gautam Adani Is Looking for New M&A Chief To Accelerate Deal Making At Conglomerate

Gautam Adani, richest man of Asia, is looking for a new executive to oversee his mergers and acquisitions strategy because the current one will shortly transition into a different position within the organization, according to Bloomberg quoting people familiar with the matter.

According to the sources, Vinod Bahety, who has been in charge of Adani Enterprises Ltd.’s M&A operations, will transition to a new industry. A formal announcement might occur as early as this month. The ports-to-power conglomerate, Adani Group, has contacted possible applicants for the position as it seeks to speed up dealmaking, according to the sources, who declined to be named because the information is confidential.

Adani is quickly becoming one of Asia’s dealmakers. In addition to data centers, airports, digital services, media, and health care, the Indian billionaire has been actively expanding the scope of his company outside coal, where he made his money. In a $10.5 billion transaction, the billionaire earlier this year agreed to purchase Holcim AG’s cement business in India. Additionally, he recently announced a hostile acquisition of New Delhi Television Ltd. and promised to invest $70 billion in renewable energy.

Adani is quickly becoming one of Asia’s dealmakers. In addition to data centers, airports, digital services, media, and health care, the Indian billionaire has been actively expanding the scope of his company outside coal, where he made his money. In a $10.5 billion transaction, the billionaire earlier this year agreed to purchase Holcim AG’s cement business in India. Additionally, he recently announced a hostile acquisition of New Delhi Television Ltd. and promised to invest $70 billion in renewable energy.

An email for response from an Adani Group official was unanswered.

According to the Bloomberg Billionaires Index, Adani, 60, passed Bernard Arnault of France last month to become the third-richest person in the world, behind only Elon Musk and Jeff Bezos. It was the first time an Asian had entered the top three of the index; fellow Indian Mukesh Ambani and Chinese national Jack Ma had never done so.

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