Adani Takes 50% Stake in Abu Dhabi's Monvarex Aluminium for $25,000 to Expand Indian Operations
[SMM Aluminum Express News] Adani Enterprises has taken a 50% stake in Abu Dhabi-based Monvarex Aluminium Holding RSC Ltd. through its wholly owned subsidiary Adani Global Limited, strengthening the group’s vehicle for developing alumina, aluminum smelting and coal-to-gas businesses in India. The transaction was completed for just US$25,000, reflecting that Monvarex Aluminium Holding is a newly established entity with US$50,000 paid-up capital and no commercial operations or turnover yet. The acquisition was disclosed on September 26, 2026. The filing explicitly states that the purpose of the acquisition is to undertake “manufacturing/extracting alumina/aluminum smelter and Coal-to-Gas business in India.” Monvarex Aluminium Holding was incorporated in Abu Dhabi on May 15, 2025 and is registered with the Abu Dhabi Global Market. No regulatory approval was required for the stake acquisition, and the transaction has already been completed.
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