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Adani Ports acquires Dhamra Port for Rs 5,500 cr
01 Jun 2014
1 Min Read
CW Staff
Gautam Adani-led Adani Ports has scooped up the strategic Dhamra port on the east coast of India for an enterprise value of Rs 5,500 crore. The company signed a definitive agreement to buy the port from a 50:50 JV of Tata Steel and Larsen & Toubro, on a day when Narendra Modi-led Bharatiya Janata Party won a massive mandate in the general elections. The deal, culminating after over one-and-a-half years of negotiations, is the largest port sector deal in India after the 2005 acquisition of Pipapav Port in Gujarat by APM Terminals BV from SKIL Infrastructure.
Gautam Adani-led Adani Ports has scooped up the strategic Dhamra port on the east coast of India for an enterprise value of Rs 5,500 crore. The company signed a definitive agreement to buy the port from a 50:50 JV of Tata Steel and Larsen & Toubro, on a day when Narendra Modi-led Bharatiya Janata Party won a massive mandate in the general elections. The deal, culminating after over one-and-a-half years of negotiations, is the largest port sector deal in India after the 2005 acquisition of Pipapav Port in Gujarat by APM Terminals BV from SKIL Infrastructure.
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