The Adani Group on Saturday clarified on reports of Kenya cancelling more than $2.5 billion in deals after the US' allegations, saying it

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 men.

Kenyan President William Ruto canceled two deals with Adani Group worth about $2.6 billion over alleged corruption, hours after the company’s billionaire founder was charged by the US authorities in a separate bribery scheme.

By George Obulutsa and Aaron Ross NAIROBI (Reuters) -Kenyan President William Ruto said on Thursday he had ordered the cancellation of a procurement process that had been expected to award control of the country's main airport to India's Adani Group after its founder was indicted in the United States.

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.

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.

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.

The group was responding to notices sent by stock exchanges to confirm reports of Kenyan President William Ruto ordering the cancellation of a procurement process