Adani Ports increases ownership stake in Krishnapatnam Port to 100%
Adani Ports and Special Economic Zone (APSEZ) has acquired the remaining 25% stake in Krishnapatnam Port from Vishwasamudra Holdings, giving it 100% ownership of the hub on the east coast of India.
The deal is worth Rs. 2,800 crore (US$380m), and with the 75% ownership acquired in October last year, implies an enterprise value of Rs. 13,675 crore (US$1.9bn).
Krishnapatnam Port is an all-weather, deep water port has multi-cargo facility with a current capacity of 64m tonnes per annum.
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