Adani Ports and Special Economic Zone Limited has informed the Exchange about acquisition of 51% stake of Meridian Transportes Marítimos S.A. by TheAdani Harbour International FZCO, a step-down subsidiary of the Company.
ADANIPORTS · price
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Adani Ports' step-down subsidiary TheAdani Harbour International FZCO has agreed to acquire a 51% stake in Argentine maritime company Meridian Transportes Marítimos S.A. for USD 444.49 in cash. The target company, incorporated in September 2023, provides maritime and nautical services and holds a 10-year contract with Southern Energy S.A. for six vessels. The deal is expected to close within 4 months and requires no regulatory approvals. Additionally, TAHID will sell a 20% stake in a UAE-incorporated vessel ownership company to an affiliate of the sellers. This acquisition supports Adani Ports' strategy to expand maritime operations in South America.
This is a small but strategically significant acquisition that extends Adani Ports' maritime footprint into South America. The deal size is negligible (USD 444) but signals continued international expansion in port and maritime services.