Adani Ports and SEZ sells Myanmar Port for $30 million
Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday said it has concluded the Myanmar Port sale for a total consideration of $30 million.
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Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday said it has concluded the Myanmar Port sale for a total consideration of $30 million.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday said it has concluded the Myanmar Port sale for a total consideration of USD 30 million. In May 2022, APSEZ had announced signing of a Share Purchase Agreement (SPA) for the sale of its Myanmar Port. The SPA had certain Condition
'This exit is in line with the guidance provided by the APSEZ Board based on the recommendations made by the Risk Committee in OCtober 2021,' says CEO Karan Adani
In May 2022, APSEZ had announced signing of a Share Purchase Agreement (SPA) for the sale of its Myanmar Port. The SPA had certain Condition Precedents (CPs), including completion of the project and relevant approvals for smooth conduct of business by the buyer.
APSEZ to conclude sale of Myanmar Port after the signing of Share Purchase Agreement (SPA) in May 2022.