Team Blitz India
NEW DELHI: Billionaire Gautam Adani-run Adani Ports and Special Economic Zone (APSEZ) will buy a 95% stake in Odisha’s Gopalpur Port (GPL) for a enterprise value of Rs 3,080 crore to boost its East Coast presence, the company said on March 26.
Furthermore, in addition to the enterprise value, the company said there is a contingent consideration of Rs 270 crore which is likely to be payable after 5.5 years, subject to certain conditions.
APSEZ, India’s largest private port operator, will be acquiring a 56 per cent stake in Gopalpur Port from real-estate conglomerate Shapoorji Pallonji Group (SP Group) and a 39 per cent stake from Orissa Stevedores.
Shares of APSEZ were trading with gains of around 1.3 per cent as of 10 am, while benchmark indices were down roughly 0.3 per cent.
