APSEZ to acquire Ocean Sparkle from IFC for $257m.

Adani Ports and Special Economic Zone, a port infrastructure company, agreed to acquire Ocean Sparkle, a provider of comprehensive port operation and management services, from IFC for $257m. “Given the synergies of OSL and Adani Harbour Services, the consolidated business is likely to double in five years with improved margins, thereby creating significant value for APSEZ’s shareholders. This acquisition not only provides APSEZ a significant share of India’s marine services market but also provides us a platform for building presence in other countries, thereby facilitating APSEZ’s journey towards becoming the largest port operator globally by 2030 and largest integrated transport utility in India," Karan Adani, APSEZ CEO and Whole-Time Director.