Adani Ports Acquires Astro Offshore for $185 Million Cash Deal

Adani Ports and Special Economic Zone Ltd (APSEZ) has announced the acquisition of an 80 percent stake in Astro Offshore, a leading global OSV operator, for USD 185 million. The acquisition is expected to be value accretive from the first year and will enhance APSEZ's global marine portfolio and customer base.

Adani Ports and Special Economic Zone Ltd (APSEZ) announced on Friday that it has secured an agreement to acquire an 80 percent stake in Astro Offshore for USD 185 million in an all-cash transaction.

The remaining 20 percent will be retained by the existing promoters of Astro. According to APSEZ, the acquisition, which values Astro Offshore at USD 235 million, will be immediately value-accretive.

Astro Offshore, a major OSV operator since its incorporation in 2009, boasts a fleet of 26 vessels and services areas across the Middle East, India, Far East Asia, and Africa. The deal aligns with APSEZ's strategy to expand its global marine footprint.

(With inputs from agencies.)