LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Adani Ports' acquires Australian port operator APB from Glencore

It said in a statement, Abbot Point Operations (APO), an Australian subsidiary of APSEZ, has entered into an agreement to acquire ownership of APB, an Australian registered company performing the operations and maintenance activities of Abbot Point Coal Terminal in Queensland, Austrailia.”

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Adani Ports' acquires Australian port operator APB from Glencore
In a move to enhance its operational foothold – APSEZ announced that it has signed an agreement to acquire a company conducting ports operations – APB. Photo: Official Website
Written By: ZeeBiz WebTeam
Updated: Tue, Sep 20, 2016
06:23 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Adani Enterprises plans to set up 1 MT copper plant in Mundra; to invest Rs 10,000 crore Adani Enterprises plans to set up 1 MT copper plant in Mundra; to invest Rs 10,000 crore

In a move to enhance its operational foothold – Adani Ports & Special Economic Zone (APSEZ) today, announced that it has signed an agreement to acquire a company conducting ports operations – Abbot Point Bulkcoal (APB).

It said in a statement, Abbot Point Operations (APO), an Australian subsidiary of APSEZ, has entered into an agreement to acquire ownership of APB, an Australian registered company performing the operations and maintenance activities of Abbot Point Coal Terminal in Queensland, Austrailia.”

Under the agreement, APO will acuire 100% shares of APB from Glencore Coal Queensland Private Limited upon receiving certain approvals.

The acquisition cost is AUD 1 also adding closing adjustments for the 100% shares and AUD 19.25 million for the operational rights.

Karan Adani CEO of APSEZ said,This acquisition is a testimony of Adani Ports' experience and expertise in operating ports at global benchmarks. This also gives us a strategic foothold enhancing our experience of handling world-class fully automated terminals.”

This move of APB gies ASPEZ an access to operate 50 mmtpa capacity in a developed economy on a cost plus basis with no capital investment.

APO would operate as a stand-alone entity from AAPT and Adani Mining.  

Following the announcement, shares of Adani Ports closed at Rs 270.15, down by 2.16%.


 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Adani Port Special Economic Zone (APSEZ)Abbot Point Bulkcoal (APB)Abbot Point Operations (APO)Glencore Coal Queensland Private LimitedPorts& Services
RELATED NEWS
Adani Enterprises plans to set up 1 MT copper plant in Mundra; to invest Rs 10,000 crore Adani Enterprises plans to set up 1 MT copper plant in Mundra; to invest Rs 10,000 crore

LATEST NEWS

RBSE exam 2021: Rajasthan Board Class 10, 12 date sheets released on rajeduboard.rajasthan.gov.in | Here is how to download

UP Police Recruitment 2021: Notification for 9,534 vacancies released on uppbpb.gov.in| Check salary, age limit and other details

7th Pay Commission: DA, TA, DR, salary hike—what central government employees and pensioners must know

World's BIGGEST Music Reality Show! Zee brings Indian Pro Music League today with Salman Khan as brand ambassador

Assembly Election Dates 2021 Announced - 5 noteworthy changes by Election Commission for polls in 4 states and 1 UT - West Bengal, Tamil Nadu, Assam, Kerala and Puducherry

7th Pay Commission latest news: Big news for Central government employees - New window opened to save money

RailTel IPO Listing today: Great expectations from share price on debut

SBI SME Gold Loan: Get this SBI business loan up to RS 50 lakh at 'attractive' rate without any financial document

Mid-cap Stock Picks With Anil Singhvi: Expert Sacchitanand Uttekar suggests these three fabulous stocks to make great gains

''The Great Gatsby'' to be made into animated feature film

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved