Adani Ports to sell coastal worldwide terminals in Myanmar

Adani Ports to sell coastal worldwide terminals in Myanmar

by admin- Thursday, May 4th, 2023 03:56:59 PM

Adani Ports and Special Economic Zone Ltd (APSEZ), the biggest integrated transport application in India and a part of the various Adani Group have concluded the Myanmar Port sale for a total consideration of USD 30 Mn.

In May 2022, APSEZ introduced signing of a Share Purchase Agreement (SPA) for the sale of its Myanmar Port. The SPA had positive Condition Precedents
(CPs), along with of entirety of the venture and relevant approvals for clean behavior of business via the customer.

Given the continuous postpone within the approval method and demanding situations in meeting sure CPs, APSEZ has acquired an impartial valuation on “as is wherein is”
basis. Thereby the purchaser and dealer have renegotiated the sale consideration to USD 30 Mn. The buyer will pay the said quantity to the vendor
within three business days on finishing all the vital compliance via the Seller. On receipt of the full transaction value, APSEZ shall transfer the equity
to the client and its exit will stand concluded.

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