“The cement companies are completely debt-free and they're solid, cash-generating companies,” says Gupta. “So, we're not concerned about the exposure.”
DBS Group Holdings (SGX:D05
) CEO Piyush Gupta says he is “not concerned” about the bank’s exposure to India’s Adani Group, despite having financed $1 billion for its US$10.5 billion ($13.99 billion) acquisition of Holcim’s cement business last year.
“Our exposure to Adani is actually of two kinds; the larger is about a billion dollars, which we’ve done to finance their M&A,” says Gupta at the release of the bank’s FY2022 ended December results on Feb 13. M&A stands for merger and acquisition.
