Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer, operator and the logistics arm of the Adani Group will be acquiring a controlling stake of 75% from the existing shareholders of Krishnapatnam Port Company Ltd (KPCL).

KPCL is located in the southern part of Andhra Pradesh, the state with the second-largest coastline of in India, and is a multi-cargo facility which handled 54 MMT in 2019.

This acquisition will accelerate APSEZ’s stride towards 400 MMT by 2025. 

The acquisition value of KPCL is approximately INR135 billion (US$1.88 billion). The purchase consideration will be funded through internal accruals and existing cash balance. 

The acquisition is subject to regulatory approvals. The transaction is expected to be completed in 120 days.