AEL subsidiary acquires 50% stake in Monvarex Aluminium Holding for USD 25,000
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Adani Global Limited, a wholly owned subsidiary of Adani Enterprises, has acquired a 50% equity stake in Monvarex Aluminium Holding RSC Ltd (MAHRSCL), an Abu Dhabi-based entity, from Monvarex Holding RSC Ltd for USD 25,000 in cash. MAHRSCL, incorporated in May 2025, has nil turnover and no commercial operations yet. The acquisition aims to set up alumina extraction, aluminium smelter manufacturing, and a Coal-to-Gas business in India. The deal is not a related party transaction and has already been completed.
Marks AEL's entry into alumina, aluminium smelting and Coal-to-Gas in India through a 50:50 structure, though the target is newly formed with no revenue.