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APSEZ, the port of Adani in India, will acquire a 10.4% stake in the GPL. Approved by CCI

The Competition Commission of India (CCI) has approved an offer by Adani Ports and Special Economic Zones Limited (APSEZ) to acquire a 10.4% stake in Gangavaram Port Limited (GPL). The proposed combination envisions the acquisition of APSEZ from the Andhra Pradesh State Government under the GPL (the entity that operates the Port of Gangabalam).

APSEZ is an integrated port infrastructure service provider currently located in 11 domestic ports in six maritime states: Gujarat, Goa, Kerala, Andhra Pradesh, Tamirnadu and Orissa.

The GPL owns, develops and operates the Deep Sea Port in Gangabalam, Andhra Pradesh, in accordance with a Build-Own-Operate-Transfer-based concession agreement with the Andhra Pradesh Government. The Indian Ministry of Corporate Affairs said in a press release that it was entitled to another 20 years (two periods of 10 years each).

The Competition Commission of India (CCI) has approved an offer by Adani Ports and Special Economic Zones Limited (APSEZ) to acquire a 10.4% stake in Gangavaram Port Limited (GPL). The proposed combination envisions the acquisition of APSEZ from the Andhra Pradesh State Government under the GPL (the entity that operates the Port of Gangabalam).

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APSEZ, the port of Adani in India, will acquire a 10.4% stake in the GPL. Approved by CCI

Source link APSEZ, the port of Adani in India, will acquire a 10.4% stake in the GPL. Approved by CCI

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