APSEZ completes NQXT acquisition

Adani Ports and Special Economic Zone Limited (APSEZ) has completed the acquisition of a coal export terminal in Australia from a group company to strengthen its presence in the Asia-Pacific region.

- PTI

In April, Gautam Adani-owned APSEZ, India's biggest private port operator, announced a USD 24 billion non-cash acquisition of North Queensland Export Terminal (NQXT).

The board had approved the acquisition of Abbot Point Port Holdings Pte Ltd (APPH), Singapore, from Carmichael Rail and Port Singapore Holdings Pte Ltd, Singapore (CRPSHPL), a related party.

As per the deal announced, APSEZ would issue 14.38 crore new equity shares to CRPSHPL in exchange for the acquisition of 100 per cent interest in APPH.

In a regulatory filing on Tuesday, APSEZ said it has made preferential allotment of 14,38,20,153 shares of face value Rs 2 each to CRPSHPL.