<h1>Adani Ports Gains Approval to Acquire 89.6% Stake in Gangavaram Port u/s 31(1) of Competition Act 2002.</h1> The Competition Commission of India has approved the acquisition of 89.6% equity shareholding in Gangavaram Port Limited by Adani Ports and Special Economic Zones Limited. This acquisition falls under Section 31(1) of the Competition Act, 2002, and was approved on April 12, 2021. Adani Ports, an integrated port infrastructure services provider, operates across 11 domestic ports in six Indian states. Gangavaram Port, located in Andhra Pradesh, is operated under a Build-Own-Operate-Transfer concession agreement with the state government, with an initial concession period of 30 years, extendable by another 20 years.