Another port acquired by Adani, CAM advises on acquisition of Abbot Point Port Holdings

Cyril Amarchand Mangaldas has advised Adani Ports and Special Economic Zone Limited on the acquisition of 100% of the shareholding of Abbot Point Port Holdings Pte. Ltd. ("Abbot") from Carmichael Rail and Port Singapore Holdings Pte Ltd.

The transaction team was led by Ruetveij Pandya, Partner, Paridhi Adani, Partner (Head - Ahmedabad), Subhalakshmi Naskar, Partner (Co-Head - Projects (Infrastructure)) and Molla Hasan, Partner.

The transaction team was also assisted by Vishvas Bharadwaj, Senior Associate, Sana Sarosh, Associate, Mansi Avashia, Associate, Kajal Singhvi, Associate, Anand Deshpande, Principal Associate, Akshay Zaveri, Principal Associate, Pauravi Kolhe, Associate and Karma Shah, Associate.

Avaantika Kakkar, Partner and Dhruv Rajain, Partner, with support from Rajat Sharma, Associate, Vrinda Gundam, Associate, Parth Mishra, Associate and Varun S., Associate advised on the Competition law related aspects of the transaction.

Last year, CAM had advised Adani Ports on acquisition of Gopalpur Port and Astro Offshore.

The acquisition will be undertaken for consideration other than cash, through the issuance and allotment of equity shares of Adani Ports by way of a preferential issue under the SEBI (ICDR) Regulations, 2018.

The transaction involves an FDI-ODI share swap, pursuant to which Adani Ports will acquire 100% of Abbot from CRPSHPL, with a transaction value of ~₹17,244 crore.

The share subscription and purchase agreement for the issuance and allotment of shares of Adani Ports, in consideration for the purchase of the shares of Abbot, was executed on April 17, 2025. The consummation of the transaction is subject to customary conditions precedents, including approvals from regulatory authorities and shareholders.

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