TNI Bureau: India’s largest private port operator Adani Ports and Special Economic Zone (APSEZ) has reportedly acquired the Gopalpur Port in Odisha.
According to reports, the APSEZ has acquired a 95 per cent stake of the port at an enterprise value of Rs 3,080 crore.
Out of the 95 per cent stake, APSEZ acquired 56% stake from Shapoorji Pallonji Group (SP Group) and 39% stake from Orissa Stevedores Ltd (OSL) Group. The SP Group and OSL Group are the two existing shareholders of the ports.
“We would like to inform you that the Company has entered into a definitive agreement on March 25, 2024 to acquire 95% stake of Gopalpur Ports Limited (“GPL”) from the existing shareholders [56% stake from SP Port Maintenance Private Limited (“SP Group”) and 39% stake from Orissa Stevedores Limited (“OSL”)] of GPL,” APSEZ said in a statement.
It is to be noted here that the Adani Group already owns the Dhamra and Gangavaram ports on the eastern coast,