Billionaire Gautam Adani’s group on Saturday clarified on reports of Kenya cancelling more than USD 2.5 billion in deals after US indictment on bribery charges, saying it had not entered into any binding agreement to operate Kenya’s main airport.

Kenya’s president says he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after U.S. bribery and fraud indictments against one of Asia’s richest me

Gautam Adanis group denies entering a pact to operate Kenyas main airport, responding to cancellation reports linked to bribery charges.

It follows accusations that Adani was scheming to pay over $250 million in bribes to Indian government officials, which he denies.

Kenya's President William Ruto has cancelled two major deals involving Indian billionaire Gautam Adani, after the tycoon was indicted for fraud by US prosecutors. In his state-of-the-nation address on Thursday, Ruto said the deals had been cancelled based on "new information provided by our investigative agencies and partner nations".

The president’s announcement came a day after Gautam Adani, the chair of the Indian conglomerate, was indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme.

The Adani Group clarified it had no binding agreement for Kenya's main airport after reports of cancelled $2.5 billion deals linked to US bribery charges. It stated Kenya's power transmission project cancellation doesn’t require SEBI disclosure.