17-04-2025
Billionaire Adani to Sell Australia Terminal to His Port Company
Billionaire Gautam Adani will transfer ownership of an Australian port terminal to his listed company in a deal worth about $2.4 billion, according to people with knowledge of the matter, as India's largest port operator seeks to expand its global footprint.
Adani Ports & Special Economic Zone Ltd. will issue preferential shares to an entity controlled by the Adani family in order to acquire the North Queensland Export Terminal Pty Ltd., the people said, asking not to be identified ahead of a formal announcement. APSEZ had purchased the terminal in 2011 before selling it to the family in 2013 in a deal worth about $2 billion, allowing the firm to focus on its Indian operations.
