Adani Logistics set to acquire agri-logistics arm from AEL

Deepthi | Myequity news | Date : 23-02-2019 14:25:00 IST

Adani Logistics Limited (ALL), a 100% subsidiary of Adani Ports and SEZ Limited (APSEZ), today announced its intent to acquire Adani Agri Logistics Limited (AALL) from Adani Enterprises Limited. The acquisition will be an all cash deal and is expected to be completed by March, 2019.

AALL is the pioneer in providing efficient storage through silos and transportation by rail. The Company has 1.58 MMT fully contracted capacity with modern agri infrastructure of 7 trains, 28 storage / handling infrastructure facilities across 10 States.

Mr. Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said, “We are excited to share that today we have announced an acquisition of Adani Agri Logistics Limited. AALL is the largest agri products logistics player with long term contracts and strong margins. This Acquisition of AALL brings us one step closer towards our vision to be the leader in providing integrated logistics services in India and focus on developing hinterland logistics. It enables us to expand our total addressable market, enhance our network and create a value chain to handle all types of cargo in India.”

About Adani Ports and Special Economic Zone

Adani Ports and Special Economic Zone (APSEZ), a part of globally-diversified Adani Group, is the largest port developer and operator in India. APSEZ’s 10 strategically located ports and terminals — Mundra, Dahej, Kandla and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam in Andhra Pradesh, and Kattupalli and Ennore in Chennai. The company is also developing a transhipment port at Vizhinjam, Kerala.

More from Myequity