Adani, Asia’s richest man, is on the hunt for a new M&A chief

Asia’s richest man, Gautam Adani, is looking for a new leader for his M&A strategy as the incumbent will soon take on a new role within the group, according to people familiar with the matter.

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(Bloomberg) – Asia’s richest man, Gautam Adani, is looking for a new leader for his M&A strategy as the incumbent will soon take on a new role at the group, people say. close to the file.

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Vinod Bahety, who led Adani Enterprises Ltd.’s mergers and acquisitions business, will move into a new business vertical and an official announcement could come as early as this month, the sources said. Adani Group has contacted potential candidates for the job as the power port conglomerate seeks to fast-track its deal, said the people, who asked not to be identified because the information is private.

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Adani is becoming one of Asia’s most active traders. The Indian billionaire has aggressively diversified his empire beyond coal, where he built his fortune, and into sectors including data centers, airports, digital services, media and healthcare. Earlier this year, the tycoon agreed to buy Holcim AG’s cement business in India in a $10.5 billion deal. He has also pledged to invest $70 billion in green energy and recently filed a hostile takeover of New Delhi Television Ltd.

A representative for Adani Group did not respond to an email seeking comment.

Adani, 60, overtook Frenchman Bernard Arnault as the third richest person in the world last month, behind Elon Musk and Jeff Bezos, according to Bloomberg Billionaires Index. It was the first time an Asian made the top three on the index – fellow Indian Mukesh Ambani and Chinese Jack Ma have never come this far.

Jennifer C. Burleigh