NCLT approves Adani Ports to acquire remaining 58.1% in Gangavaram Port : Adani Ports and Special Economic Zone Ltd (APSEZ) has received an approval from the National Company Law Tribunals (NCLT) to acquire the balance 58.1% stake in Gangavaram Port Limited (GPL).
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Earlier, APSEZ had acquired 31.5% in the company from Warburg Pincus and 10.4% from Andhra Pradesh government.
GPL is an all-weather deep-water multipurpose port. APSEZ is the flagship transportation arm of the diversified Adani group. The deal prices GPL at around Rs 6,200 crore.
