Competition Commission of India nod to port acquisition by Adani Group

The APSEZ already holds 75 percent share holding in the Port and in April, it had announced the acquisition of the residual 25 percent stake for Rs 2,800 crore.

Published: 19th May 2021 07:31 AM  |   Last Updated: 19th May 2021 07:31 AM   |  A+A A-

Adani Group Chairman Gautam Adani

Adani Group Chairman Gautam Adani (Photo | PTI)

By Express News Service

VIJAYAWADA: The Competition Commission of India (CCI) has approved the proposed acquisition of the remaining 25 per cent stake of Adani Krishnapatnam Port Limited in Nellore by the Adani Ports and Special Economic Zone (APSEZ).

The APSEZ already holds 75 percent share holding in the Port and in April, it had announced the acquisition of the residual 25 percent stake for Rs 2,800 crore. 

​With the approval of the CCI, the APSEZ now holds the entire 100 percent stake in the Port.

“APSEZ will now hold 100 percent shareholding,” CCI said.

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