Ocean Sparkle will be acquired by Adani Ports

Adani Ports and Special Economic Zones (APSEZ) announced on Friday that its subsidiary Adani Harbour Services has signed a definitive deal to purchase Ocean Sparkle Ltd, a leading third-party maritime services provider (OSL).

Given the synergies of OSL and Adani Harbour Services Ltd. (TAHSL), the consolidated business is anticipated to quadruple in five years with increased margins, providing considerable value for APSEZ’s shareholders, according to APSEZ CEO and Whole-Time Director Karan Adani.

He went on to say that this acquisition not only gives APSEZ a large piece of India’s maritime services sector but also gives them a platform to expand into other nations.

Towage, pilotage, and dredging are among the company’s major activities, according to a statement. “Ocean Sparkle Ltd is a market leader,” it continued, citing its asset base of 94 owned vessels and 13 third-party-owned vessels.

Ocean Sparkle Ltd’s value of 1,700 crores

According to the statement, OSL has an enterprise value of 1,700 crores and has 300 crores in free cash. The company was founded in 1995 by a group of maritime technocrats, with P. Jairaj Kumar as Chairman and MD, and he will continue to lead the OSL.

According to the statement, it has a presence in all of India’s main ports, 15 minor ports, and all three LNG facilities. India’s largest private ports and logistics enterprise, Adani Ports and Special Economic Zones, is the flagship transportation component of the diversified Adani Group. 

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