Adani Ports completes Rs 12,000 cr deal for 75% stake in Krishnapatnam

The acquisition will accelerate APSEZ's stride towards 500 MMT by 2025 and is another step in implementing its stated strategy of cargo parity between west and east coasts

adani ports,
Through its ports, the company is present in bulk, container as well as liquid cargo business.

In a bid to increase its footprint in the country’s port sector, Adani Ports and Special Economic Zone Limited (APSEZ) today announced the completion of acquisition of Krishnapatnam Port Company Ltd (KPCL) for an enterprise value of Rs 12,000 crore. This will result give APSEZ a controlling stake of 75 per cent in KPCL from the CVR Group and other investors. The port is expected to generate an earnings before interest, taxes, depreciation and ammortisation  (EBITDA) of approximately Rs 1,200 crore in FY21, resulting in an acquisition EV/ EBITDA multiple of ...