The Adani Harbour Services Ltd (TAHSL), a subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ), has signed a formal deal to acquire 100 percent ownership in Ocean Sparkle Ltd (‘OSL’), India’s top third-party marine services provider. Towage, pilotage, and dredging are among the company’s main activities. OSL is a market leader, with a fleet of 94 owned boats and 13 owned by other parties. OSL is valued at Rs 1,700 crore in enterprise value, with Rs 300 crore in cash on hand.
“Given the synergies of OSL and Adani Harbour Services, the consolidated business is likely to double in five years with improved margins, thereby creating significant value for APSEZ’s shareholders,” said Mr Karan Adani, CEO and Whole-timeDirector, APSEZ. “This acquisition not only provides APSEZ a significant share of India’s marine services market but also provides us a platform for building a presence in other countries, thereby facilitating APSEZ’s journey towards becoming the largest port operator globally by 2030 and largest integrated transport utility in India”, he said as per reports.
