Adani Ports buys 95 percent stake in Gopalpur Ports
PORTS & SHIPPING

Adani Ports buys 95 percent stake in Gopalpur Ports

Gautam Adani-led Adani Ports and Special Economic Zone (APSEZ) has acquired a 95 percent stake in Gopalpur Ports from SP Port Maintenance and Orissa Stevedores in an all-cash deal for an enterprise value of Rs.30.8 billion, as India’s biggest private port oper...

Gautam Adani-led Adani Ports and Special Economic Zone (APSEZ) has acquired a 95 percent stake in Gopalpur Ports from SP Port Maintenance and Orissa Stevedores in an all-cash deal for an enterprise value of Rs.30.8 billion, as India’s biggest private port operator bolsters its presence on India’s eastern coast. APSEZ bought the 56 percent stake held by SP Port Maintenance, a unit of Shapoorji Pallonji Group and the 39 percent held by Orissa Stevedores for an equity value of Rs.13.49 billion. The location of Gopalpur Port will allow unprecedented access to mining hubs of Odisha and neighbouring states and help expand the hinterland logistics footprint.Contact: Adani PortsWebsite: www.adaniports.com

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