Terminal Investment Ltd, through its fully owned subsidiary Mundi Ltd,
acquired a 49 percent stake in the 8 lakh twenty-foot equivalent units (TEUs)
capacity Adani Ennore Container Terminal Pvt Ltd from APSEZ for Rs 247 crore,
pegging the enterprise value of the terminal at Rs 1,211 crore, according to a
15 December 2023 announcement by the two companies.
This 2023 deal was awaiting security clearance from the Union
government, per procedure framed for port contracts. “The government has granted security clearance to Terminal
Investment/Mundi for the stake purchase,” a government official said.
“Kamarajar Port
Ltd will now complete the formalities for share transfer in the terminal
operating company as per the concession agreement,” said the official.