Adani to Transfer Australian Port Terminal in $2.4B Deal

Gautam Adani, an Indian billionaire, is set to transfer ownership of an Australian port terminal to Adani Ports & Special Economic Zone. According to a Bloomberg News report released on Thursday, the transaction is valued at approximately $2.4 billion, as India’s largest private port operator seeks to amplify its global footprint.

As per the report, Adani Ports will issue preferential shares to an entity under the Adani family’s control to facilitate the acquisition of the North Queensland Export Terminal.

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The North Queensland Export Terminal, a deep-water coal export facility, was initially acquired by Adani Ports in 2011. It was then sold to the Adani family in 2013 for $2 billion, the report stated.

Requests for comment from Adani Ports to Reuters have not yet received an immediate response.