Adani Ports and Special Economic Zone Ltd (“APSEZ”) has entered into an agreement to acquire a 100 percent stake in Ocean Sparkle Ltd (‘OSL’), India’s leading third-party marine services provider, through its subsidiary, The Adani Harbour Services Ltd (“TAHSL”). The company’s main activities include towage, pilotage, and dredging.

OSL is a market leader, with 94 owned vessels and 13 third-party owned vessels. OSL has an enterprise value of Rs1,700 crore and has Rs300 crore in free cash. The company was founded in 1995 by a group of marine technocrats, with Mr. P Jairaj Kumar as Chairman and MD, who will also serve as Chairman of the OSL board of directors.

Adani Group Acquires 100% Stake In Marine Services Company Ocean Sparkle |  Mint

“Given OSL and Adani Harbour Services’ synergies, the consolidated business is likely to double in five years with improved margins, creating significant value for APSEZ’s shareholders.” “Karan Adani, CEO and Whole-Time Director of APSEZ, stated “This acquisition not only gives APSEZ a significant share of India’s marine services market, but it also gives us a platform for expanding our presence in other countries, facilitating APSEZ’s journey to become the largest port operator globally by 2030 and India’s largest integrated transport utility.” “OSL has long-standing relationships with its current clients, with contracts ranging from 5 to 20 years in length (the average contract length is 7 years).

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign Up for Our Newsletters

Get Notified For Latest Updates And Exclusive Offers As Well

You May Also Like

Adani Group Will Buy 29.2% Of NDTV And Will Launch An Open Offer.

According To A Statement Made By AMG Media Network, Which Is Owned By Adani Enterprises, The Open Offer Will Have The Purpose Of Acquiring An Additional 26% Stake In NDTV.

Kanwar Yatra: Are Public Spaces In India Exclusively For The Rich?

At all times of the year, the wealthy hold Kanwar Yatra, VIP…

Tragic Accident In Himachal Pradesh Claims The Lives Of A Woman And Her 6-Year-Old Son

Motorcycle-Truck Collision On National Highway Leaves Community In Shock

In A First, The Supreme Court Will Stream Its Proceedings Live Today.

The Proceedings Of The Ceremonial Bench That Will Bid Farewell To Chief Justice Of India NV Ramana Will Be Live-Streamed Through A Webcast Portal, According To A Notice That Was Uploaded Onto The Website Of The Highest Court In The Country.