Adani Ports on a roll with three big acquisitions in five months
With three big acquisitions having a combined value of ₹14,659 crore in five months, Gautam Adani-led Adani Ports and Special Economic Zone Ltd (APSEZ) is on a roll.
On March 3, APSEZ acquired a 31.5% stake in Gangavaram Port Ltd (GPL) from a unit of private equity firm Warburg Pincus LLC for ₹1,954 crore and said it was in talks with D V S Raju and family, the promoters of the port located in Visakhapatnam, for buying their 58.1% stake in GPL.
Gangavaram is APSEZ’s second big acquisition in Andhra Pradesh, India’s second biggest maritime state by cargo volumes handled, after picking up a 75% stake in Krishnapatnam Port Co Ltd (KPCL) for an enterprise value of Rs12,000 crore on October 5.
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All-women commanded tanker makes history after setting sail from JNPT
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JNPT highlights the importance of developing Mega ports with world-class infrastructure
The three day long, ‘Maritime India Summit 2021’ concluded yesterday with great enthusiasm and fervour, also with new hope and abundant opportunities in the maritime sector. As India aims to emerge as a leading Blue Economy of the world, the summit witnessed MoU signings, and investment opportunities.
On the first day of the summit, Shri Sanjay Sethi, IAS, Chairman, Jawaharlal Nehru Port Trust, India’s premier container port, hosted the plenary session, Developing World-Class Ports. The summit was held, with the objective of unveiling ample opportunities in the maritime sector. The summit also propelled India to the forefront the Global Maritime industry as the summit hosted forums for interaction and collaboration with the Indian and International Ports, Shipping and Maritime Companies, Investors, and other stakeholders. MIS 2021 provided a powerful platform for international collaboratio
Adani Ports on a roll with three big acquisitions in five months
March 05, 2021
On the prowl for more as promoters look to cash in on the stress situation
With three big acquisitions having a combined value of ₹14,659 crore in five months, Gautam Adani-led Adani Ports and Special Economic Zone Ltd (APSEZ) is on a roll.
On March 3, APSEZ acquired a 31.5% stake in Gangavaram Port Ltd (GPL) from a unit of private equity firm Warburg Pincus LLC for ₹1,954 crore and said it was in talks with D V S Raju and family, the promoters of the port located in Visakhapatnam, for buying their 58.1% stake in GPL.