Adani Ports & Special Economic Zone to acquire 75% stake in Krishnapatnam Port Company
KPCL is located in the southern part of Andhra Pradesh, the state with the second largest coastline of in India, and is a multi-cargo facility which handled 54 MMT in FY19.
This acquisition will accelerate APSEZ's stride towards 400 MMT by 2025.
Acquisition value of KPCL is approximately Rs.13,500 crore. The purchase consideration will be funded through internal accruals and existing cash balance.
The acquisition is subject to regulatory approvals. The transaction is expected to be completed in 120 days.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content