Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore.
In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd (OSL) has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum (MTPA) situated in Ganjam district of Odisha.
In a regulatory filing, APSEZ said that it has entered into definitive agreements to acquire the entire 56 per cent shareholding of SP Group and a 39 per cent stake of OSL in Gopalpur Port Ltd (GPL). OSL will continue as a JV partner with a 5 per cent stake, the filing added.
The SP Group said that the port is capable of handling 20 MTPA of cargo volume.
