Adani Ports and Special Economic Zone Ltd. (APSEZ) and Terminal Investment Limited (TiL), the container terminal arm of Mediterranean Shipping Company (MSC) Group, on Tuesday, signed a definitive agreement under which TiL will acquire a 49 per cent stake in Adani Vizhinjam Port Private Limited (AVPPL). TiL will invest USD 1.397 billion, representing its share of the USD 2.85 billion valuation. The transaction is subject to customary approvals, including regulatory clearances.
The partnership marks the third collaboration between APSEZ and MSC Group after their joint ventures at Mundra Container Terminal No. 3 and Ennore. According to the companies, it is the largest foreign private investment in Indian port infrastructure and is aimed at strengthening Vizhinjam port's position as a transshipment hub in the Indian Ocean region.
