Adani Enterprises (NSE: $ADANIENT) is buying 49% in Raghav Bahl-run Quintillion Business Media (BOM: $539515) and has already signed Shareholders’ Agreement.
Asia’s richest man Gautam Adani’s conglomerate, Adani Enterprises, announced it will pick a 49% stake in Raghav Bahl-curated digital business news platform Quintillion Business Media Pvt Ltd for an undisclosed sum, according to a regulatory filing.
Shares of Quint Digital Media Ltd (BOM: $539515) rose sharply, rallying over 9%.
Quint Digital Media Ltd is a business and financial news company and operates a leading business news digital platform BloombergQuint.
The port-to-energy conglomerate helmed by Gautam Adani has been eyeing entry into the media space for the past few months. In September last year, it hired veteran journalist Sanjay Pugalia to lead its media company, Adani Media Ventures.
Billionaire Adani appears to be following suit in what the other billionaires are doing. Billionaire Bloomberg owns his financial media conglomerate. Billionaire Murdoch built his media empire. Billionaire Bezos bought the Washington Post. Recently, Billionaire Musk is attempting to acquire World’s town square, Twitter.
Billionaire see, Billionaire do.
Billions, Billions, Billions, and Billions.
The business mogul Gautam Adani recently struck another massive deal with Swiss cement giant Holcim to acquire its Indian businesses for $10.5 billion in cash, his biggest acquisition to date.
Two $10+ billion-dollar deals paid in cash, barely a week from each other, ought to be a sign that some smart investors are getting the timing right.
Adani Group has a market capitalization of over USD $150 billion, comprising seven publicly listed companies that are in the business of operating airports and ports, power generation and transmission, coal, and city gas distribution network.
Its coal-to-ports conglomerate will acquire Holcim’s controlling 63.2% stake in Ambuja Cement and its 54.5% stake in ACC.
Adani’s bid beat $7 billion equity offer from JSW Group.
If the deal is approved by regulators, it will vault the Adani Group from having almost no presence in the sector to the second-biggest player in the world’s second-largest cement market.
These are both great examples of the same lesson. Markets are shaken, inflation is rampant, investors are worried, many are panicking – yet Buffet’s words clearly ring:
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” ― Warren Buffett.