Adani Ports sells 49% stake in unit to Mediterranean Shipping for Rs 247 crore
Transport utility company Adani Ports and Special Economic Zone Ltd (APSEZ) on Friday announced that it has entered into a second strategic partnership with Mediterranean Shipping Company’s (MSC) arm, Terminal Investment Limited (TiL), for the operation of Adani Ennore Container Terminal Pvt Ltd (AECTPL).
Notably, TiL is an associate of MSC, the world’s largest container shipping line. The company through its subsidiary Mundi Ltd is set to acquire a 49 per cent in AECTPL from APSEZ for Rs 247 crore.
This marks the second joint venture between the giants after the 2013 joint venture with TiL for Adani International Container Terminal Pvt Ltd (AICTPL), which operates CT3 Container Terminal at Mundra Port, the largest private commercial port in India.