Adani Ports inks pact to acquire 80% stake in Astro

31 Aug 2024 Evaluate

Adani Ports and Special Economic Zone (APSEZ) has entered into a definitive agreement to acquire 80% stake in Astro Offshore group (Astro), in an all-cash deal for $185 million, implying an EV of $235 million and EV / FY25E EBITDA at 4.4x. The transaction is expected to be value accretive from the first year itself.

Acquisition is part of APSEZ’s roadmap to becoming one of the world’s largest marine operators. Astro will enhance APSEZ’s global marine portfolio and add new Tier-1 customers to the roster.

Astro is a leading global OSV operator in the Middle East, India, Far East Asia and Africa. Astro owns a fleet of 26 OSVs comprising of Anchor Handling Tugs (AHTs), flat top barges, Multipurpose Support Vessels (MPSVs) and workboats and provides vessel management and complementary services.

Adani Ports and Special Economic Zone, a part of globally diversified Adani Group, is the largest integrated logistics player in India.


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