The Competition Commission of India has approved the 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 by Adani Ports and Special Economic Zone Limited.
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. The logistics chain includes vessel management to anchorage, pilotage, tug pulling, berthing, goods handling, internal transport, storage and handling, processing and final evacuation by road or rail.
KPCL is engaged as a developer and operator of the deep water port at Krishnapatnam, Andhra Pradesh.
Source: News On Air