Adani Ports’ stake increases to 75% in AP’s Krishnapatnam Port
Together with the 75 per cent ownership acquired in October 2020, the acquisition implies an enterprise value of Rs 13,675 crore.
By IANS| Posted by Sruthi Vibhavari | Published: 5th April 2021 11:46 am IST Krishnapatnam Port is located on the east coast of India in Nellore district of Andhra Pradesh.
Nellore: Private sector ports and logistics company Adani Ports and Special Economic Zone Ltd. (APSEZ) is acquiring the residual 25 per cent stake in Adani Krishnapatnam Port Ltd., (Krishnapatnam Port) for Rs 2,800 crore.
With this, APSEZ will increase its stake from 75 per cent to 100 per cent in Krishnapatnam Port, the country’s second-largest private-sector port. The acquisition will be completed by buying 25 per cent from Vishwa Samudra Holdings.
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Adani Ports increases ownership in Krishnapatnam Port to 100 pc by acquiring Vishwasamudra Holdings for Rs 2,800 cr ANI | Updated: Apr 05, 2021 10:28 IST
Ahmedabad (Gujarat) [India], April 5 (ANI): Adani Ports and Special Economic Zone Ltd (APSEZ) has acquired 25 per cent stake in Adani Krishnapatnam Port Ltd from Vishwa Samudra Holdings for Rs 2,800 crore, resulting in 100 per cent acquisition of Krishnapatnam port by APSEZ.
APSEZ is India s largest private ports and logistics company and the flagship transportation arm of the diversified Adani Group.
Together with the 75 per cent ownership acquired in October 2020, the acquisition implies an enterprise value of Rs 13,675 crore implying an EV/FY21 EBITDA multiple of 10.3x.
Private sector ports and logistics company Adani Ports and Special Economic Zone Ltd. (APSEZ) is acquiring the residual 25 per cent stake in Adani Krishnapatnam Port Ltd., (Krishnapatnam Port) for Rs 2,800 crore. With this, APSEZ will increase its stake from 75 per cent to 100 per cent in Krishnapatnam Port, the country s second largest private sector port. The acquisition will be completed by buying 25 per cent from Vishwa Samudra Holdings. Together with the 75 per cent ownership acquired in October 2020, the acquisition implies an enterprise value of Rs 13,675 crore implying an EV/FY21 EBITDA multiple of 10.3x. Krishnapatnam Port is located on the east coast of India in Nellore district of Andhra Pradesh (180 km from Chennai Ports) close to the border between Andhra Pradesh and Tamil Nadu. It is an all-weather, deep water port and has a multi-cargo facility with a current capacity of 64 MMTPA. With a waterfront of 20 km and 6,800 acres of land, Krishnapatnam Port has a maste
APSEZ now owns 100% of the A.P. port
Adani Ports and Special Economic Zone Ltd. (APSEZ) has bought the residual 25% stake in Adani Krishnapatnam Port Ltd. (Krishnapatnam Port) from Vishwasamudra Holdings for ₹2,800 crore, a top official said.
“The consolidation of ownership in Krishnapatnam reinforces APSEZ’s strides towards 500 MT (million tonnes) by 2025 and achieving our broader strategy of cargo parity between the West and East coasts of India,” said Karan Adani, CEO and whole time director.
“Krishnapatnam Port is on track to handle double the traffic by 2025 and will deliver high growth through a multi-product and cargo-enhancement strategy while enhancing return on capital employed,” he said.