Adani Ports is selling a 49% stake in Adani Ennore Container Terminal Pvt Ltd. The stake is being sold for INR 247 crores, following an agreement with Mediterranean Shipping Company Mundi Limited. After this agreement, the valuation of AECTPL has reached INR 1,211 crores. Let’s delve into the details in this report.
Business Desk, New Delhi. Adani Ports announced on Friday that it would sell a 49% stake in Adani Ennore Container Terminal Pvt Ltd (AECTPL). The company is selling this stake to Mediterranean Shipping Company Mundi Limited for INR 247 crores.
Adani Ports and Special Economic Zone (APSEZ) and Adani Ports mentioned in their statement that this agreement became effective on December 14, 2023. Following this agreement, the valuation of AECTPL has reached INR 1,211 crores. The entire transaction is expected to be completed within 3 to 4 months from the date of this agreement.
It’s worth noting that this is Adani Ports’ second strategic partnership after the joint venture with Adani International Container Terminal Private Limited (AICTPL). Operating under the name of Private Port, Mundra Port, identified as the Mundra Port C3 Container Terminal, is managed by Adani Ports after the joint venture with International Container Terminal Investments Private Limited (ICTIPL).
The company mentioned in its statement that after the completion of this agreement, APSEZ will hold a 51% stake in AECTPL. Mundi Limited is an indirect subsidiary of Terminal Investment Limited (TIL) and a collaborative partner of the Mediterranean Shipping Company (MSC).
