TotalEnergies’ Statement on its Investments Related to Adani Group in India
TotalEnergies has responded to the US authorities' indictment of certain Adani group executives regarding an alleged corruption scheme linked to Adani Green Energy (AGEL). The company, which holds a 19.75% minority stake in AGEL and 50% stakes in joint venture projects, emphasizes that neither AGEL nor its related companies are targeted in the indictment. TotalEnergies will suspend new financial contributions to Adani group investments until the accusations are clarified, while maintaining that its previous investments were made in compliance with applicable laws and internal governance processes.
TotalEnergies ha risposto all'atto d'accusa delle autorità statunitensi nei confronti di alcuni dirigenti del gruppo Adani riguardanti un presunto schema di corruzione collegato a Adani Green Energy (AGEL). L'azienda, che detiene una partecipazione minoritaria del 19,75% in AGEL e il 50% di partecipazioni in progetti in joint venture, sottolinea che né AGEL né le sue società correlate sono target di tale atto d'accusa. TotalEnergies sospenderà i nuovi contributi finanziari agli investimenti del gruppo Adani fino a quando le accuse non saranno chiarite, ribadendo che i suoi investimenti precedenti sono stati effettuati nel rispetto delle leggi applicabili e dei processi di governance interna.
TotalEnergies ha respondido a la acusación de las autoridades estadounidenses contra ciertos ejecutivos del grupo Adani en relación con un supuesto esquema de corrupción vinculado a Adani Green Energy (AGEL). La compañía, que posee una participación minoritaria del 19.75% en AGEL y una participación del 50% en proyectos de empresa conjunta, enfatiza que ni AGEL ni sus empresas relacionadas son objeto de la acusación. TotalEnergies suspenderá nuevas contribuciones financieras a las inversiones del grupo Adani hasta que se aclaren las acusaciones, manteniendo que sus inversiones anteriores se realizaron de acuerdo con las leyes aplicables y los procesos de gobernanza interna.
TotalEnergies는 Adani Green Energy (AGEL)와 관련된 부패 혐의에 대해 아다니 그룹의 일부 경영진을 기소한 미국 당국에 대응했습니다. AGEL에 19.75%의 지분을 보유하고 있으며, 합작 투자 프로젝트에서 50%의 지분을 보유한 이 회사는 AGEL 또는 관련 기업들이 이 기소의 대상이 아니라는 점을 강조했습니다. TotalEnergies는 혐의가 명확해질 때까지 아다니 그룹의 투자에 대한 새로운 재정 기여를 중단할 것이며, 이전 투자는 관련 법률 및 내부 거버넌스 프로세스를 준수하여 이루어졌다고 밝혔습니다.
TotalEnergies a réagi à l'acte d'accusation des autorités américaines à l'encontre de certains dirigeants du groupe Adani concernant un prétendu système de corruption lié à Adani Green Energy (AGEL). La société, qui détient une participation minoritaire de 19,75 % dans AGEL et 50 % dans des projets en co-entreprise, souligne qu'aucune des sociétés liées à AGEL n'est visée par l'acte d'accusation. TotalEnergies suspendra les nouvelles contributions financières aux investissements du groupe Adani jusqu'à ce que les accusations soient clarifiées, tout en maintenant que ses investissements précédents ont été réalisés conformément aux lois applicables et aux processus de gouvernance internes.
TotalEnergies hat auf die Anklage der US-Behörden gegen bestimmte Führungskräfte der Adani-Gruppe in Bezug auf ein angebliches Korruptionsschema reagiert, das mit Adani Green Energy (AGEL) verbunden ist. Das Unternehmen, das einen Minderheitsanteil von 19,75 % an AGEL hält und 50 % an Joint-Venture-Projekten, betont, dass weder AGEL noch die damit verbundenen Unternehmen in der Anklage genannt werden. TotalEnergies wird neue finanzielle Beiträge zu Investitionen der Adani-Gruppe aussetzen, bis die Vorwürfe geklärt sind, und betont, dass seine bisherigen Investitionen in Übereinstimmung mit den geltenden Gesetzen und internen Governance-Prozessen getätigt wurden.
- Company maintains significant renewable energy assets through 19.75% stake in AGEL and 50% stakes in three joint ventures
- TotalEnergies is not targeted or involved in the corruption investigation
- Suspension of new financial contributions to Adani group investments
- Potential reputational risk from association with Adani group corruption investigation
- Risk to existing investments due to corruption allegations against partner company executives
Insights
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has learnt through public announcements made by the US authorities of the indictment of certain individual Adani group executives in relation to an alleged corruption scheme linked to the business of Adani Green Energy Limited (AGEL). This indictment does not target AGEL itself, nor any AGEL related companies.
In accordance with its code of conduct, TotalEnergies rejects corruption in any form.
TotalEnergies, which is not targeted nor involved in the facts described by such indictment, will take all relevant actions to protect its interests as minority (
Until such time when the accusations against the Adani group individuals and their consequences have been clarified, TotalEnergies will not make any new financial contribution as part of its investments in the Adani group of companies.
TotalEnergies recalls that its investments in Adani’s entities were undertaken in full compliance with applicable laws, and with TotalEnergies’ own internal governance processes pursuant to due diligence and representations made by the sellers. In particular, TotalEnergies was not made aware of the existence of an investigation into the alleged corruption scheme.
TotalEnergies’ investments in and with AGEL
In January 2021 TotalEnergies acquired a minority interest in the listed company Adani Green Energy Limited of which it now owns 19,
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About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
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Source: TotalEnergies SE
FAQ
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