CCI nod for Krishnapatnam Port acquisition

CCI nod for Krishnapatnam Port acquisition
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CCI nod for Krishnapatnam Port acquisition

Highlights

The Competition Commission of India (CCI) approved acquisition of Krishnapatnam Port Company Limited by Adani Ports and Special Economic Zone Limited

New Delhi: The Competition Commission of India (CCI) approved acquisition of Krishnapatnam Port Company Limited by Adani Ports and Special Economic Zone Limited. The proposed combination envisages acquisition of equity shareholding along with management control of Krishnapatnam Port Company Limited (KPCL) by Adani Ports.

Adani Ports is a customer-facing integrated port infrastructure services provider currently present across ten domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.

The acquirer manages the logistics chain (i.e. from vessels management to anchorage, pilotage, tug pulling, berthing, goods handling, internal transport, storage and handling, processing and final evacuation by road or rail).

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