Adani bonds, shares decline as US expands probe into the group

Several of Adani Groups dollar bonds fell the most in more than half a year, after news that US prosecutors have widened their probe of the port-to-power conglomerate to focus on whether it may have engaged in bribery..

A note from unit Adani Ports & Special Economic Zone Ltd. due in 2041 slid 2.4 cents, the most since August, to 79.1 cents..

Another bond from subsidiary Adani Renewable Energy RJ Ltd. due 2039 fell 2.3 cents to 83 cents, the worst drop since February 2023..

US investigators are digging into whether an Adani entity, or people linked to the company including Gautam Adani, were involved in paying officials in India for favorable treatment on an energy project, according to people with direct knowledge of the matter..

The probe, which is also looking at Indian renewable energy company Azure Power Global Ltd., is being handled by the US Attorneys Office for the Eastern District of New York and the Justice Departments fraud unit in Washington, said people familiar with the matter...

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