Adani Ports & Special Economic Zone Limited announced the acquisition of 100% stake in Seabird Distriparks (Krishnapatnam) Private Limited (“Seabird Distriparks”).
According to the company’s exchange filing, “We would like to inform that the Adani Krishnapatnam Port Limited, wholly owned subsidiary of the Company has signed Share Purchase Agreement on January 28, 2022 with Seabird Marine Services Private Limited, to acquire 100% stake of Seabird Distriparks (Krishnapatnam) Private Limited (“Seabird Distriparks”).”
Seabird Distriparks is engaged in the business of owning, operating and maintaining Container Freight Station, which are facilities set up for the purpose of in-transit container handling, examination, assessment of cargo with respect to customs clearances, both export and import.
“The Investment is in line with Company’s strategy to increase its footprint in Andhra Pradesh. Investment will allow Krishnapatnam Port provide value added services to its customer at the Port,” the exchange filing said.
Adani Ports and Special Economic Zone Limited formerly known as Mundra Port and Special Economic Zone Limited, is India’s largest private multi-port operator. It is the largest port developer and operator in India with 12 strategically located ports and terminals — Mundra, Dahej, Kandla, and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam and Krishnapatnam in Andhra Pradesh, and Kattupalli and Ennore in Chennai.
