Adani Ports and Special Economic Zone Ltd.

Adani Ports and Special Economic Zone (APSEZ) has acquired 49.38 per cent stake in Indian Oiltanking-- developer and operator of liquid storage facilities-- for Rs 1,050 crore. This agreement also includes acquisition of an additional 10 per cent equity stake in IOT Utkal Energy Services, a 71.57 per cent subsidiary of Indian Oiltanking. The company has entered into a definitive agreement for the acquisition of Oiltanking India GmbH's 49.38 per cent equity stake in Indian Oiltanking. The acquisition is well aligned with APSEZ's strategy of becoming the largest transport utility.

Adani Ports and Special Economic Zone, a part of globally diversified Adani Group, is the largest integrated logistics player in India.