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The Competition Commission of India (CCI) on Tuesday gave nod to proposed acquisition of additional 25 per cent stake of Adani Krishnapatnam Port Ltd by Adani Ports and Special Economic Zone Ltd.
The acquirer already holds 75 per cent shareholding in Adani Krishnapatnam Port.
"As a result of the proposed combination acquirer will hold 100% shareholding and sole control of the Target," according to a release.
In April, Adani Ports and Special Economic Zone had said it has acquired 25 per cent stake of Vishwa Samudra Holdings in Krishnapatnam Port for Rs 2,800 crore.
Krishnapatnam Port, located on the east coast of India in Nellore district of Andhra Pradesh, is an all-weather, deep water port has multi-cargo facility with a current capacity of 64 million tonne per annum.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Tue, May 18 2021. 19:09 IST