Gautam Adani on M&A / Acquisitions

From 2009-2012, Adani acquired Abbot Point Port and the Carmichael coal mine in Queensland, Australia — controversial bets that drew sustained environmental opposition and became a recurring flashpoint in the global coal debate. The assets also marked Adani's first major overseas infrastructure footprint beyond trading.

September 2020 brought a 74% acquisition of Mumbai International Airport, India's second-busiest. In May 2022 the Adani family bought Ambuja Cements and ACC from Holcim for $10.5 billion via an overseas special-purpose entity, extending the infrastructure empire into building materials — a vertical that uses ports, power and logistics in concert.

In August 2022 an Adani unit declared intent to buy RRPR Holding — owner of 29.18% of NDTV — and made an open offer for another 26%. NDTV's founders said Adani acquired the stake via a third party 'without discussion, consent or notice.' The Economist later described NDTV as previously 'critical of the government but is now supine,' raising editorial-independence concerns given Adani's perceived proximity to Prime Minister Narendra Modi.