India's Largest Port Operator To Acquire Major Export Terminal in Australia

Adani Ports and Special Economic Zone Ltd (APSEZ), India's largest private port operator, has announced a $2.4-billion non-cash deal to acquire the North Queensland Export Terminal (NQXT) in Australia, as Adani seeks to jumpstart its global expansion plans. Adani ports CEO Ashwani Gupta described as “pivotal” the transaction, which involves the issuance of 14.38 crore equity shares to Carmichael Rail and Port Singapore Holdings Pte Ltd (CRPSHPL), a related entity controlled by the Adani family. The share-swap deal values NQXT at around…