Question

Adani Ports receives NCLT approval to acquire ______ in Gangavaram Port.

A 60 percent Correct Answer Incorrect Answer
B 55.5 percent Correct Answer Incorrect Answer
C 58.1 percent Correct Answer Incorrect Answer
D 35.8 percent Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Adani Ports and Special Economic Zone Ltd ( APSEZ) has received approvals from the National Company Law Tribunals at Ahmedabad and Hyderabad for acquiring 58. 1 per cent stake in Gangavaram Port Ltd ( GPL). With this stake purchase, GPL will become a fully- owned subsidiary of APSEZ.   The acquisition of GPL is priced at around Rs 6,200 crore ( 517 million shares at Rs 120 each). Gangavaram Port has excellent rail and road network connectivity and is the business gateway to a hinterland spread over eight states. The recent addition of a container handling terminal will help to accelerate growth of cargo volumes.

Practice Next
×
×