Adani to buy 75% stake in Krishnapatnam Port

Adani Ports and Special Economic Zone Ltd has agreed to buy a 75% stake in Krishnapatnam Port Co. Ltd (KPCL) at an enterprise value of Rs.13,500 crore.
The Krishnapatnam Port is located in southern Andhra Pradesh and is a multi-cargo facility. It handled 54 million tonnes of cargo in the year ended 31 March 2019.
The purchase will accelerate Adani Ports’ plan to expand its cargo-handling capacity to 400mt by 2025.
This is the second acquisition by Adani Ports in the past seven days. On 27 December, Adani Ports said it had acquired a majority stake in Snowman Logistics Ltd for Rs.296 crore to foray into cold chain logistics.
Adani Logistics Ltd, a wholly-owned unit of Adani Ports, will buy a 40.25% stake in Snowman from Gateway Distriparks Ltd. Snowman is market leader in cold chain logistics with over 30% share among integrated organized cold chain service providers in India.
Adani Ports and Special Economic Zone Ltd (APSEZ) is India’s largest private sector port operator.
Founded in 1998
Headquarter - Ahmedabad ,Gujarat.
CEO - Karan Adani