APSEZ CEO and Whole Time Director Karan Adani said the consolidated business is likely to double in five years with better margins.
APSEZ CEO and Whole Time Director Karan Adani said the consolidated business is likely to double in five years with better margins.
Adani Ports and Special Economic Zone (APSEZ) on Friday said its subsidiary Adani Harbor Services has entered into a definitive agreement to acquire leading third-party marine service provider Ocean Sparkle Limited (OSL).
Commenting on the growth, Karan Adani, CEO and Whole Time Director, APSEZ said that considering the synergy of OSL and Adani Harbor Services Limited (TAHSL), the consolidated business is likely to double in five years with better margins, thereby making APSEZ’s will generate significant value. shareholder.
He further added that this acquisition not only gives APSEZ a significant share of India’s marine services market, but also provides us with a platform to build a presence in other countries.
According to a statement, the major activities carried out by the company include towage, pilotage and dredging.
“With an asset base of 94 owned vessels and 13 third party owned vessels, OSL is a market leader,” it added.
According to the statement, OSL has an enterprise value of ₹1,700 crore and ₹300 crore of free cash in the company. The company was established in 1995 by a group of marine technocrats with P. Jayaraj Kumar as Chairman and MD, who would continue as Chairman of OSL.
It has presence in all major ports, 15 minor ports and all 3 LNG terminals in India, the statement said.
Adani Ports and Special Economic Zone, the flagship transportation arm of the diversified Adani Group, is India’s largest private port and logistics company.