Adani Ports and Special Economic Zone to acquire Seabird Distriparks
Adani Ports and Special Economic Zone Limited said that its fully-owned subsidiary — Adani Krishnapatnam Port Limited has agreed to acquire 100% of Seabird Distriparks (Krishnapatnam) Private Limited for a sum of INR 19.22 crores.
Seabird Distriparks is involved in owning, operating, and maintaining container freight station, which are facilities established for in-transit container handling, examination, assessment of cargo for customs clearances, both import and export.
According to Adani Ports and Special Economic Zone, the acquisition of Seabird Distriparks aligns with its strategy to boost its presence in Andhra Pradesh.
Adani Ports and Special Economic Zone to acquire Seabird Distriparks. Photo courtesy of Venkatesh cherukuru/Wikipedia.org.
Furthermore, the investment will enable Krishnapatnam Port to offer value added services to its customer at the port, said the Adani Group company.
The deal is expected to close within 15 days.
Adani Ports and Special Economic Zone had taken full ownership of Adani Krishnapatnam Port, the holding company for the Krishnapatnam Port in April 2021.