Adani Ports and Special Economic Zone (APSEZ), India’s largest ports and logistics company, has entered into a definitive agreement to purchase the 56 percent stake of SP Group and 39 percent of Orissa Stevedores (OSL) in Gopalpur Port (GPL). The acquisition has been finalised at an enterprise value of Rs 3,080 crore (with a contingent consideration of Rs 270 crores to be payable after 5.5 years), says an official release from APSEZ. The equity consideration for the 95 percent stake is Rs. 1,349 crore, APSEZ said in a regulatory filing with the exchanges. "Gopalpur port is located on the east coast of India and has the capacity to handle 20 million tonnes per annum. The Government of Odisha awarded a 30-year concession to GPL in 2006, with the provision of two extensions of 10 years each.
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