M&A

M&A

Shapoorji Pallonji Group sells Gopalpur Port to Adani Ports at Rs.3,350-Cr valuation

Economic Times  

Shapoorji Pallonji Group (SP Group) has sold the brownfield Gopalpur Port to publicly listed Adani Port and SEZ Ltd for an enterprise value of INR 3,350 crore. Deutsche Bank advised SP Group on the deal.Located in Odisha, Gopalpur Port was acquired by the SP Group in 2017. At present, Gopalpur Port is capable of handling 20 MTPA. It has recently signed up with Petronet LNG for setting up a Greenfield LNG regasification terminal, adding predictable long-term cash.This is the second port divestment in recent months by the SP Group, following the earlier sale of Dharamtar Port to JSW Infrastructure Ltd for an enterprise value of INR 710 crore.