Adani Ports and Special Economic Zone (APSEZ) has announced that it is set to purchase a 95 per cent majority stake in Odishas Gopalpur Port for a value of 13.49 billion rupees ($161.74 million) to bolster its east coast presence.
Adani Ports will purchase a 56 per cent stake in Gopalpur Port from real-estate conglomerate Shapoorji Pallonji Group (SP Group) and a 39 per cent stake from Orissa Stevedores, reported Reuters.
The acquisition is made at an enterprise value of INR 3,080 crore ($370 million), and the transaction is subject to statutory approvals and fulfilment of other conditions precedents.
Gopalpur port is located on the east coast of India and has the capacity to handle 20 million metric tonnes per annum (MMTPA). The Governm…
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