Total halts new investment in Adani Group due to corruption probe

France’s TotalEnergies made a significant announcement on Monday regarding its investments in the Adani Group. The company stated that it will not be pursuing any new investments in the Adani group of companies amid an ongoing corruption probe.

This decision comes as TotalEnergies aims to maintain its integrity and ethics in its business dealings. The company has taken a stand to avoid entering into any new ventures with the Adani Group until the cloud of the corruption probe is lifted.

TotalEnergies’ move sheds light on the importance of transparency and accountability in the corporate world. By refraining from new investments with the Adani Group at this time, TotalEnergies is sending a clear message about the significance of ethical business practices.

It was revealed that TotalEnergies’ exposure to the Adani group currently stands at $3.1 billion through its stakes in four energy companies. This substantial financial involvement underscores the impact of their decision to halt new investments until further notice.

In light of these developments, stakeholders and investors in both TotalEnergies and the Adani Group will be closely monitoring the situation. This decision by TotalEnergies serves as a reminder of the importance of upholding high ethical standards in the financial and business sectors.

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