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Business News » Companies News

Adani Logistics to acquire agri-logistics arm from AEL by March 2019

After the acquisition, combined business would also benefit from leveraging significant opportunity for handling multiple commodities and transportation.

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Adani Logistics to acquire agri-logistics arm from AEL by March 2019
The acquisition will be an all-cash deal and is expected to be completed by March 2019. Photo: PTI

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

Elaborating on the deal Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said told Zee Business Online in a written statement, “We are excited to share that today we have announced the 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.”

See Zee Business video below:

#ZBizImpact | एक बार फिर #ZeeBusiness की ख़बर पर लगी मुहर, अंडर-कंस्ट्रक्शन प्राॅपर्टी पर #GST 12% से घटकर 5% हुआ।@AnilSinghviZEE @SwatiKJain pic.twitter.com/AMy14msU5H

— Zee Business (@ZeeBusiness) February 25, 2019

AALL has 1.58 MMT fully contracted capacity with modern agri infrastructure of 7 trains, 28 storage/handling infrastructure facilities across 10 States. AALL has long term (20-30 year) guaranteed offtake contracts on use or pays basis with 70%+ EBITDA margins. AALL targets to double infrastructure capacity in the next 3 years and tap the new 12.5 MMT infrastructure market as well as opportunities such as conventional storage conversion, among others. 

Combined Business would also benefit from leveraging significant opportunity for handling multiple commodities and transportation.

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 GroupAdani Entreprises Limited
Written By: ZeeBiz WebTeam
Updated: Mon, Feb 25, 2019
04:26 pm
New Delhi, ZeeBiz WebDesk
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