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APSEZ gets CCI nod for 25% more stake purchase in Krishnapatnam port

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.

Topics
APSEZ | Krishnapatnam port | CCI

Press Trust of India  |  New Delhi 



Adani ports

The Competition Commission of India (CCI) on Tuesday gave nod to proposed acquisition of additional 25 per cent stake of Adani Ltd by Adani Ports and Special Economic Zone Ltd.

The acquirer already holds 75 per cent shareholding in Adani .

"As a result of the proposed combination acquirer will hold 100% shareholding and sole control of the Target," according to a release.

The Commission approves proposed acquisition of additional 25 per cent shareholding of Adani Ltd by Adani Ports and Special Economic Zone Ltd, said in a tweet.

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

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