New Delhi: Adani Ports has acquired Dhamra Port in Odisha from Larsen & Toubro and Tata Steel.
Adani Ports and Special Economic Zone said it had executed a definitive agreement with L&T Infrastructure Development Projects Ltd. and Tata Steel to acquire 100 per cent stake in the Dhamra Port Company for Rs 5,500 crore.
Adani Ports said that following the acquisition, the second phase of development would be initiated within 90 days and would complete [it] in 30 months.
The transaction is subject to customary conditions precedent, including lenders / third party approvals.
Meanwhile, stocks of three listed firms of Gujarat-based Adani group, on Friday, ended as much as 6 per cent higher on the clear mandate given by voters to the BJP-led NDA.
