Adani Ports Expands Global Reach with $2.4B Australian Terminal Acquisition

India's largest private port operator Adani Ports and SEZ (APSEZ) acquired the Australia-based North Queensland Export Terminal (NQXT) from a related party in a non-cash deal worth $2.4 billion. The deal involves issuance of 14.38 crore shares to Carmichael Rail and Port Singapore Holdings at the ex...

India's largest private port operator Adani Ports and SEZ (APSEZ) acquired the Australia-based North Queensland Export Terminal (NQXT) from a related party in a non-cash deal worth $2.4 billion. The deal involves issuance of 14.38 crore shares to Carmichael Rail and Port Singapore Holdings at the expense of dilution of promoter holding by 2.13% Major points: Capacity: NQXT handles 50 million tonnes annually, doubling volumes four times to 120 million tonnes by FY30, including green hydrogen exports EBITDA target: APSEZ aims to double the terminal's EBITDA to A$400 million within four years Strategic shift: The transition propels APSEZ's vision to handle 1 billion tonnes per annum by 2030 with a focus on overseas markets The agreement, subject to RBI and Australian regulatory clearances, restores APSEZ's holding in NQXT, which it originally acquired in 2011 but then sold in 2013 to the Adani family Source: New Indian Express, Reuters, Bloomberg