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MSC Unit now has Security Nod to Buy 49 Percent Stake in Adani’s Box Terminal At Kamarajar Port
Dr.G.R.Balakrishnan Apr 08 2024 Container Terminal News

MSC Unit now has Security Nod to Buy 49 Percent Stake in Adani’s Box Terminal At Kamarajar Port

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.