India’s largest private port operator Adani Ports and Special Economic Zone (APSEZ) has completed the acquisition of Krishnapatnam Port Co for an enterprise value of Rs.120 bn. This will give APSEZ a 75 per cent stake in KPCL. APSEZ had signed a deal to buy the port in early January for an enterprise value of Rs.137.52 bn. But the company then paused a number of acquisitions across the Adani Group, including Krishnapatnam port, as it re-evaluated priorities following the coronavirus pandemic, and renegotiated acquisition prices down. KPCL is a multi-cargo facility port in the southern part of Andhra Pradesh. This acquisition will accelerate APSEZ’s progress towards 500 mt cargo handling capacity by 2025.Contact: Adani Ports and Special Economic Zone. Website: www.adaniports.com