Gautam Adani, the richest man in Asia and the sixth richest person in the world, is now taking a big step. A report said that Adani Harbor Services, a subsidiary of their Adani Ports and Special Economic Zones (APSEZ) Limited, has agreed to acquire third-party maritime service provider company Ocean Sparkle Limited (OSL).
Shareholders will get its benefit
Karan Adani, Chief Executive Officer, and Whole Time Director, APSEZ shared the details of the deal. He said that looking at the synergy between the two companies, it can be said that the consolidated business is likely to double in five years with better profits, which will benefit the shareholders of Adani Ports.
Payment will be made in this way
According to the report, the information shared by the company with the stock exchange on Friday said that the Indian billionaire Gautam Adani-led company will pay Rs 1,135.30 crore for the direct acquisition of a 75.69 percent stake in OSL. Along with this, it will pay Rs 394.87 crore for the indirect acquisition of a 24.31 percent stake. The entire transaction is expected to be completed within a month, it added.
1700 crores are the enterprise value of OSL
OSL Company was established in 1995 by a group of marine technocrats, with P Jayaraj Kumar as Chairman and MD, who will continue as Chairman of the OSL Board. Karan Adani said that this acquisition will increase the company's share in the maritime services market in India and will also provide a platform to establish a presence in other countries. According to the report, OSL has an enterprise value of Rs 1,700 crore and leads the market with 94 own ships and 13 third-party-owned vessels.
Also Read: PLI scheme Rs 2.34 lakh crore investment, more than 60 lakh people will get employment
The Union Law Ministry has praised the 'One Nation, One Election' Bill. The ministry has told the
Ayushmann Khurrana is one of the finest actors in Hindi cinema. In the world of cinema, he is kno
Kannada industry's blockbuster film 'Kantara' has also made a mark in the 70th National Film Awar
Former Kerala Chief Minister and senior Congress leader Oommen Chandy has passed away. Along with
UGC: Nearly eight out of 10 Indians prefer to study abroad, claims report
Indian campuses of foreign universities: The University Grants Commission (UGC) unveiled draft no
Layoffs: Retrenchment continues in companies, now PepsiCo is planning to sack hundreds of employees
After Twitter, Amazon, and Facebook, now PepsiCo company is also planning to lay off employees. P
Israeli Ambassador Naor Gilon posted in India was threatened with death by terrorists in November
Trade unions and farmers' organizations across the country have called for a nationwide strike on
Coronavirus Update: Corona cases continue to rise in the country, new cases cross 10 thousand
The process of increasing the cases of Coronavirus in the country is going on once again. In the
Threatening letters to Kashmiri Pandits and Hindus and attacks on people belonging to these commu
