Ashurst advisers assist APSEZ in acquiring Abbot Port through a $2 billion share exchange agreement
Adani Ports and Special Economic Zone Limited (APSEZ) has successfully completed the acquisition of Abbot Point Port Holdings (APPH) from Carmichael Rail and Port Singapore Holdings, marking a significant expansion of its overseas port assets. The deal, valued at approximately $1.97 billion, according to business and financial news outlets, is one of the largest in India’s infrastructure sector for the first half of 2025.
The acquisition allows Adani Ports to strengthen its presence in global port operations, particularly in Australia, as part of its strategy to diversify assets internationally. Abbot Point Port is a major coal export facility in Queensland, Australia, and is critical for coal supply chains in the Asia-Pacific region.
The transaction was advised by leading law firms Cyril Amarchand Mangaldas and Ashurst, which provided legal and regulatory advice to ensure compliance with Indian and international law. The valuation process was conducted by GT Valuation Advisors, using the free cash flow to the firm (FCFF) approach under the discounted cash flow (DCF) method.
The deal enables Adani Ports to regain control of the North Queensland Export Terminal, which it initially procured at Abbott Point in 2011 through a $1.3 billion transaction. In 2013, the controlling Adani family entities assumed ownership of the strategic asset from Adani Ports at equivalent consideration plus invested capital.
The acquisition is part of APSEZ’s broader ambition to invest up to $20 billion annually in infrastructure, including greenfield projects. This expansion of APSEZ’s overseas portfolio supports its long-term strategy to be a global leader in port and logistics services.
The deal is subject to regulatory compliance, in accordance with the Companies Act, 2013, and SEBI regulations, ensuring transparency and shareholder protection. CAM partners Avaantika Kakkar and Dhruv Rajain advised on the competition law-related aspects of the transaction.
This acquisition represents a key milestone for APSEZ’s international growth and portfolio diversification, supported by rigorous valuation and legal processes. The terminal is situated at the Port of Abbot Point, approximately 25 kilometres north of Bowen in Queensland's northern region along Australia’s eastern seaboard.
The acquisition strengthens Adani Ports' position in the regulation-compliant finance sector, as it moves forward with its strategic plan to invest in international port operations and become a global leader in port and logistics services. The deal, advised by leading law firms such as Cyril Amarchand Mangaldas and Ashurst, ensures Adani Ports' compliance with both Indian and international law, particularly with regards to competition and the valuation process.
