Millennium Post (Kolkata)

ADANI PORTS’ ACQUISITIO­N OF 89.6% STAKE IN GANGAVARAM GETS CCI NOD

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NEW DELHI: The Competitio­n Commission of India (CCI) on Tuesday approved the acquisitio­n of 89.6 per cent stake in Gangavaram Port Ltd by Adani Ports and Special Economic Zones Ltd. Adani Ports and Special Economic Zone (APSEZ) in March had announced it would acquire controllin­g interest in Gangavaram Port Ltd (GPL) from DVS Raju and family for Rs 3,604 crore, taking its stake in GPL to 89.6 per cent. APSEZ had announced acquisitio­n of 58.1 per cent stake held by DVS Raju and family and 31.5 per cent stake of Warburg Pincus.

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