APSEZ receives approval for 100% stake in Gangavaram Port
India’s largest ports and logistics company Adani Ports and Special Economic Zone Ltd (APSEZ) has received approval to acquire the remaining 58.15% stake in Gangavaram Port Limited (GPL).
With approval granted from NCLT Ahmedabad and NCLT Hyderabad, GPL will become a 100% subsidiary of APSEZ thus increasing the company’s port portfolio to twelve.
Karan Adani, CEO and whole-time director of APSEZ, said: “Acquisition of GPL is a key milestone in consolidating our position as India’s largest transport utility and in achieving East Coast & West Coast parity.
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