BENGALURU: Adani Ports and Special Economic Zone announced on Friday its plan to acquire a majority stake in offshore support vessel operator Astro Offshore for $185 million. This strategic move is aimed at expanding its fleet and diversifying operations beyond its core port activities.
Adani Ports will purchase an 80% stake in Astro Offshore, which owns a fleet of 26 vessels, including barges and workboats. The company serves major clients such as NMDC and Larsen & Toubro.
“This acquisition will bolster our current fleet of 142 tugs and dredgers and provide us with access to a strong portfolio of tier-1 customers,” said Adani Ports CEO Ashwani Gupta in a statement.
The deal aligns with Adani Ports’ strategy to extend its reach beyond port operations, helping it maintain its leadership in the sector against competitors like JSW Infrastructure and Gujarat Pipavav. The acquisition is expected to be finalized within a month and does not require regulatory approvals.
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