Cyril Amarchand Mangaldas (CAM), Ashurst and PricewaterhouseCoopers advised on the Adani Ports and Special Economic Zone (APSEZ) acquisition of 100% in Abbot Point Port Holdings from Carmichael Rail and Port Singapore for INR172.4 billion (USD2.04 billion).
APSEZ’s acquisition is structured as a non-cash transaction, involving the issuance and allotment of shares through a preferential issue under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.
CAM partners Ruetveij Pandya, Paridhi Adani, Subhalakshmi Naskar and Molla Hasan led the transaction team. Principal associates Anand Deshpande and Akshay Zaveri, senior associate Vishvas Bharadwaj, and associates Sana Sarosh, Mansi Avashia, Kajal Singhvi, Pauravi Kolhe and Karma Shah provided support.
Partners Avaantika Kakkar and Dhruv Rajain advised on competition law, with assistance from associates Rajat Sharma, Vrinda Gundam, Parth Mishra and Varun S.
Ashurst Australia served as international legal counsel to APSEZ, while PricewaterhouseCoopers advised on both Indian and foreign tax aspects of the deal.
SBI Capital Markets and GT Valuation Advisors acted as valuation advisers.
Completion of the transaction is subject to customary conditions, including shareholder and regulatory approvals.
Abbot owns and operates the North Queensland Export Terminal at the Port of Abbot Point, which is 25 kilometres north of Bowen. APSEZ is 含羞草社区 largest port and logistics company with a presence in 13 locations.
