Adani Ports and Special Economic Zone (APSEZ) has entered into an agreement for purchasing Marine Infrastructure Developer Private Limited (MIDPL), for Rs.1,950 crore.

In a regulatory filing to BSE the company stated, “The company has signed share purchase agreement on June 27, 2018, between Larsen and Toubro, Marine Infrastructure Developer Private Limited, L&T Shipbuilding Limited and Adani Kattupalli Port Private Limited to acquire 97% stake of MIDPL.”

Further the company stated that, out of Rs.1,950 crore enterprise value, Rs.388 crore is the consideration for the acquisition of shares and the balance Rs.1,562 crore is towards settlement of liabilities of MIDPL and the company is likely to complete the acquisition in a week.

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