M&A
Adani Group's APSEZ eyes Karaikal and Gopalpur ports
Adani Ports and Special Economic Zone (APSEZ) is weighing the acquisition of Karaikal and Gopalpur ports. Karaikal Port (KPPL) runs the all-weather port developed on a Build, Operate, and Transfer (BOT) format under Public Private Partnership (PPP) on a 30-year concession awarded by the Puducherry government. APSEZ will buy the 11% from Edelweiss Asset Reconstruction Co together with the 38% shares pledged by Marg and take over the debt of INR 1,995.95 crore from EARC. APSEZ is also evaluating the take-over of Gopalpur Ports, the entity that runs a deep-water port at Gopalpur in Odisha's Ganjam district. Shapoorji Pallonji, which holds 60% stake in the port, is looking to exit from the port in the wake of the financial stress faced by the Group.
From Venture Intelligence PE-VC Deals Database: Between March'10 to June'12, Karaikal Ports had raised INR 687 crore from StandChart PE, NYLIM Jacob Ballas Funds, Ascent Capital, Affirma Capital and IDFC Project Equity.
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