Business

Adani Ports Gets Approval To Acquire 89.6% Stake In Gangavaram Port

Adani Ports Gets Approval To Acquire 89.6% Stake In Gangavaram Port

Adani Ports and Special Economic Zones Limited (APSEZ) will soon acquire an 89.6 per cent stake in Gagavaram Port. On April 13, 2021, the government's competition regulatory body - the Competition Commission of India (CCI) approved the acquisition of 89.6 per cent equity shareholding in the Gangavaram Port Limited or GPL by Adani Ports and Special Economic Zones. According to a statement released by the Ministry of Corporate Affairs today, the approval by the regulatory body has come under section 31 (1) of the Competition Act, 2002.