CCI approves acquisition of 89.6% of equity shareholding of Gangavaram Port Limited by Adani Ports and Special Economic Zones Limited

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....CI approves acquisition of 89.6% of equity shareholding of Gangavaram Port Limited by Adani Ports and Special Economic Zones Limited <br>News and Press Release<br>Dated:- 13-4-2021<br><BR>The Competit....

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....ion Commission of India (CCI) approves acquisition of 89.6% of equity shareholding of Gangavaram Port Limited ("GPL") by Adani Ports and Special Economic Zones Limited ("APSEZ") under Section 31(1) of....

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.... the Competition Act, 2002, on 12th April 2021. The proposed combination relates to the acquisition of 89.6% of the shareholding in GPL (i.e., the entity operating Gangavaram port) by APSEZ. APSEZ i....

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....s an integrated port infrastructure services provider currently present across 11 domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha. APSEZ manages th....

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....e complete 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 roa....

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....d or rail). GPL is engaged to own, develop and operate the deep-water port at Gangavaram, Andhra Pradesh, pursuant to a concession agreement on Build-Own-Operate-Transfer basis with Government of And....

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....hra Pradesh for a concession period of thirty years from the date of commercial operations and entitled for a further period of 20 years (two periods of 10 years each). Detailed order of the CCI will....

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.... follow.<BR> News - Press release - PIB....