Adani Ports and Special Economic Zone (APSEZ) has received an approval to divest its significant stake in entities controlling the Abbot Point Coal Terminal in Queensland, Australia to the Adani family. This divestment will further enhance the financial strength of APSEZ in order to pursue its plans to acquire / set up new ports & logistics assets in India.
The company has taken this step in order to focus on the high growth Indian Ports & Logistics Sector and maintain its leadership position in India. The board at its meeting held on January 28, 2013 has approved for the same. This divestment is however subject to requisite approvals, formalities and clearances, at a valuation determined by an independent valuer.
Adani Ports and Special Economic Zone is the country's largest private multi-port operator and part of the Adani Group, a global integrated infrastructure player.