JOURNAL ARTICLE

Adani Ports Acquires Offshore Shipping Firm for $185 Million.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Sanjai, P R 3 of 3

Abstract

Adani Ports, owned by billionaire Gautam Adani, will acquire an 80% stake in Astro, a Singapore-based offshore support vessel supplier, for $185 million. The acquisition will expand Adani Ports' fleet to 168 vessels and provide access to a strong customer base. Astro operates in the Middle East, India, Far East Asia, and Africa, and has a fleet of 26 offshore support vehicles. Adani Ports currently operates 15 ports in India and is looking to expand its presence in Sri Lanka, Israel, Tanzania, Vietnam, and other regions. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/09, pN.PAG
  • Document Type:Article
  • Subject Area:Mining and Mineral Resources
  • Publication Date:2024
  • Accession Number:179361954
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