Adani Ports acquires 31.5 per cent stake in Gangavaram Port
Adani Ports and Special Economic Zones (APSEZ) Ltd is acquiring a 31.5 per cent stake held by an affiliate of Warburg Pincus in Gangavaram Port Ltd (GPL) and certain rail assets from the promoters, taking its market share in the country’s ports to 30 per cent. In a late evening announcement, Adani Ports said it will acquire the stake held by Windy Lakeside Investment Ltd, an affiliate of Warburg, in Gangavaram for Rs 1,954 crore, subject to regulatory approvals. Adani Ports said they were also in discussions with Gangavaram promoter — DVS Raju and family — for their 58.1 per cent stake,...
Source: telegraphindia.com