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Home Business Adani Ports Gets Approval To Acquire 89.6% Stake In Gangavaram Port

Adani Ports Gets Approval To Acquire 89.6% Stake In Gangavaram Port


The approval has come under section 31 (1) of the Competition Act, 2002.

Adani Ports and Special Economic Zones Limited (APSEZ) will soon acquire an 89.6 per cent stake in the Gagavaram Port, in Visakhapatnam, Andhra Pradesh. On April 13, 2021, the government’s competition regulatory body – the Competition Commission of India (CCI) approved the acquisition of 89.6 per cent equity shareholding in the Gangavaram Port Limited by Adani Ports. According to a statement released by the Ministry of Corporate Affairs today, the approval by the regulatory body has come under section 31 (1) of the Competition Act, 2002. 



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