Adani Ports to acquire Ocean Sparkle

PTI

New Delhi, April 22

Adani Ports and Special Economic Zone (APSEZ) on Friday said its subsidiary Adani Harbour Services has entered into a definitive agreement to acquire leading third-party marine services provider Ocean Sparkle Ltd (OSL).

Commenting on the development, APSEZ CEO and Whole-time Director Karan Adani said given the synergies of OSL and the Adani Harbour Services Ltd (TAHSL), the consolidated business is likely to double in five years with improved margins, thereby creating significant value for APSEZ’s shareholders.

He further said this acquisition not only provides APSEZ a significant share of India’s marine services market but also provides us with a platform for building a presence in other countries. —