Mumbai: Adani Ports and Special Economic Zone (APSEZ) has agreed to sell a 49% stake in its Vizhinjam port project to Terminal Investment (TiL), the port operating arm of the Mediterranean Shipping Company (MSC) Group, in a transaction valuing the Kerala port at $2.85 billion.As per the companies and a stock exchange filing Tuesday, TiL will invest $1.397 billion for the stake in Adani Vizhinjam Port, the concessionaire that operates the deep-water transshipment port. The pact was signed Monday and is subject to customary nods, including regulatory clearances.The investment is the largest foreign private investment in an Indian port infrastructure asset, said APSEZ.The agreement also deepens the partnership between the two companies.
APSEZ to sell 49% in Vizhinjam port to MSC Group arm
Adani Ports is selling a 49% stake in its Vizhinjam port project to MSC Group's port arm, TiL, for $1.397 billion. This deal values the Kerala port at a significant $2.85 billion, marking the largest foreign private investment in Indian port infrastructure. The agreement, signed Monday, strengthens the existing partnership between Adani and MSC, pending regulatory approvals.
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