Adani Ports and Special Economic Zone (APSEZ) will be acquiring a 75% stake from the existing shareholders of Krishnapatnam Port and Company (KPCL). This acquisition will accelerate APSEZ’s stride towards 400 MMT by 2025. The acquisition value of KPCL is approximately Rs13,500 crore. The purchase consideration will be funded through internal accruals and existing cash balance. The acquisition is subject to regulatory approvals and the transaction is expected to be completed in 120 days.
Karan Adani, Chief Executive Officer and Whole Time Director, APSEZ, said, “Given the best-in-class infrastructure and the distinct hinterland catered by KPCL, this acquisition will not just increase our market share to 27 per cent but also add remarkable value to our pan-India footprint.”