CCI approves acquisition of 89.6% stake in Gangavaram Port by Adani Ports

The Competition Commission of India (CCI) has approved the acquisition of 89.6 per cent stake in Gangavaram Port by Adani Ports and Special Economic Zones. In March, Adani Ports had declared it would acquire controlling interest in Gangavaram Port (GPL) for Rs 3,604 crore, taking its stake in GPL to 89.6 per cent.

Adani Ports and Special Economic Zone (APSEZ), a part of globally diversified Adani Group, is the largest integrated logistics player in India.